James Murdoch tipped to lead Tesla's board of directors?

James Murdoch could become the next chairman of Tesla's board of directors.

He is "the favorite" to replace Elon Musk, who is currently chairman of the board and chief executive, the Financial Times reported.

Musk agreed to relinquish his presidency last month to resolve fraud complaints filed by US financial regulators.

The settlement requires Tesla to install an independent chairman, among other things.

It is planned to strengthen the surveillance exercised on Mr Musk, who caused the accusations when he claimed on Twitter that he had obtained funds and that he could take the company in camera.

The terms of the agreement with the Securities and Exchange Commission are pending court approval. A federal judge must review the settlement on Thursday.

The FT report cites two anonymous sources, but adds that other names remain in the study.

The New York Times had previously indicated that Mr. Murdoch's name had been discussed for the job.

Who is James Murdoch?

Murdoch, Rupert Murdoch 's youngest son, has been on the Tesla board since 2017.

He was one of two new members the firm appointed last year after criticism that the board – which includes Mr. Musk's brother and a close business partner – needed to be more independent.

This appointment brought him $ 1.9 billion in compensation, all but $ 10,000 in the form of shares.

Murdoch is currently chief executive of US media giant 21st Century Fox, but will step down once the company sells much of its business to Walt Disney.

He resigned from Sky's board of directors this week, following the success of Comcast's bid on the European satellite broadcaster.