Tesla and SpaceX founder Elon Musk appeared in a 60 Minutes interview this weekend covering a wide range of topics including recent labor complaints at Tesla and his replacement for chairman of the board. Musk made it clear that, despite a settlement that requires "mandatory procedures... regarding oversight of communications relating to the Company made in any format, including but not limited to, posts on social media (e.g Twitter)", no one is looking over his shoulder or telling him not to tweet.
"I want to be clear, I do not respect the SEC, I do not respect them", Musk said when asked about the SEC lawsuit brought against Musk earlier this year.
Musk's comments came during an interview with CBS's "60 Minutes" that aired Sunday. The part that requires pre-approval of communications that could affect the stock price technically must be in place by December 28, the company said. "That's not realistic, in the sense that I'm the largest shareholder in the company, and I can just call for a shareholder vote and get anything done that I want", Musk told Stahl.
Elon Musk, the chief executive officer of Tesla Inc., openly derided the US Securities and Exchange Commission (US SEC) in an interview, having settled fraud charges with the regulatory agency over an errant tweet. "If they were going to sell a plant or not use it that we would take it over", he said. The settlement followed an investigation brought on in part by one of the Tesla CEO's tweets. The company named Robyn Denholm, who was already on the board, as chairwoman.
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"Musk's tweets caused market chaos and harmed Tesla investors", prosecutors said. And I didn't really want to try to adhere to some CEO template. Musk on pot:I do not smoke pot, as anyone who watched that podcast could tell, I have no idea how to smoke pot. Ltd., Australia's largest telecommunications company, but will step down from that company after a six-month notice period and work at Tesla full-time.
The SEC settlement would allow Musk to return as chairman after three years, subject to shareholder approval.
In addition, Musk talked about why he open-sourced Tesla's patents, saying competition in the electric cars industry is good for the environment.
"I actually prefer to have no titles at all", Musk said.