CBSE BOARD X, asked by yuvrajkj, 1 year ago

Why Elon musk is being forced to step down as the CEO of Tesla motors?

Please give any update about him!

Answers

Answered by ishaasanish03

He claimed he had funding secured to take Tesla private at $420 per share. It became clear that the funding was far from secure, making his statement false, a violation of federal law. The intended result is to impose a check on Elon's freewheeling habits and impose more organizational discipline on Tesla. The SEC threatened to sue, in return for which Musk brokered a deal by stepping down as chairman (to not get sued).

yuvrajkj: thanks

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