Tesla Adds Oracle CEO Larry Ellison to Board After SEC Intervention

Oracle CEO and co-founder Larry Ellison will join Tesla’s board, the automaker has announced. Kathleen Wilson-Thompson will also join the board. The decision comes after the US SEC launched an investigation into CEO Elon Musk.

According to Tesla, Ellison and Wilson-Thompson, the latter who serves as executive vice president at drugstore chain Walgreens, have been added to the board for their expertise, which will enable them to contribute to Tesla in their position as independent directors.

The message that Tesla put online shows that Ellison and Wilson-Thompson have already joined the Board of Directors on Thursday. According to the automaker, the search for new independent drivers has been underway in recent months and both individuals have a strong interest in renewable energy. Further, no details have been released about why the Oracle and Walgreens executives were chosen, although Ellison is known to have shares in Tesla.

The decision to add the Oracle CEO to the Board of Directors follows, among other things, after the US Securities and Exchange Commission launched an investigation into CEO Elon Musk. He recently tweeted a plan to take Tesla off the stock exchange, something that ultimately fell through. After talks with the SEC, Musk decided to step down as chairman of the board, but he will remain as CEO.