Elon Musk ’s reported drug use has Tesla Inc. board members facing a familiar quandary: having to decide what, if anything, to do about the chief executive subjecting directors and shareholders alike to great financial and legal risk .
The Wall Street Journal’s article describing Musk’s history of recreational drug use and ongoing consumption of ketamine is the latest in a long line of tests for a board packed with the CEO’s acolytes — several of whom agreed less than six months ago to return $735 million to settle a lawsuit alleging they had excessively compensated themselves. Shareholders voiced dissatisfaction with the board last year over Tesla’s succession planning, and accused Musk of being distracted by his commitments to other companies. His chaotic 2022 takeover of Twitter Inc., the social media company he’s renamed X Corp., contributed to Tesla losing $672 billion in market capitalization that yea
Source: Law Daily Report (lawdailyreport.net)
Elon Musk Tesla Drug Use Ketamine Board Members Shareholders Financial Risk Legal Risk Lawsuit Compensation Succession Planning Twitter X Corp. Market Capitalization