James Murdoch in line to replace Elon Musk as Tesla chairman: Report

James Murdoch in line to replace Elon Musk as Tesla chairman: Report
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Outgoing Twenty-First Century Fox Inc Chief Executive James Murdoch is the lead candidate to replace Elon Musk as Tesla Inc chairman, the Financial Times reported on Wednesday, citing two people briefed on the discussions.

Tesla has until November 13 to appoint an independent chairman of the board, part of settlements reached last month between Tesla, Musk and US regulators in the wake of Musk tweeting in August that he had secured funding to take the electric car maker private.

The settlement capped months of debate and some investor calls for stronger oversight of Musk, whose recent erratic public behaviour raised concerns about his ability to steer the money-losing company through a rocky phase of growth.

The US Securities and Exchange Commission, which said Musk's tweeted statements were fraudulent, allowed the billionaire to retain his role as CEO while requiring he give up his chairmanship.

In a vote of confidence for Musk, shareholder T. Rowe Price Group Inc said in a regulatory filing on Wednesday that it had raised its stake by nearly half to 10.2 percent at the end of September from just under 7 percent in June.

Murdoch, already an independent director of Tesla, has signalled he wants the job, the report said.

The son of Fox mogul Rupert Murdoch, he joined Tesla's board last year after years of work with media companies. He has no experience in manufacturing and ha...

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