As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by REUTERS.COM:

(Reuters) – Outgoing Twenty-First Century Fox Inc (FOXA.O) Chief Executive James Murdoch is the lead candidate to replace Elon Musk as Tesla Inc (TSLA.O) chairman, the Financial Times reported on Wednesday, citing two people briefed on the discussions.

Tesla has until Nov. 13 to appoint an independent chairman of the board, part of settlements reached last month between Tesla, Musk and U.S. regulators in the wake of Musk tweeting in August that he had secured funding to take the company private.

The article goes on to state the following:

The U.S. Securities and Exchange Commission, which said the statement was fraudulent, allowed the billionaire to retain his role as CEO while stripping him of his chairmanship and imposing a penalty of $20 million on each party.

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