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Elon Musk to resign as Tesla chairman, remain CEO in $40 million SEC settlement

Tesla chief executive Elon Musk enters the lobby of Trump Tower in Manhattan, New York, U.S., January 6, 2017.
(Reuters) — Tesla and Elon Musk have agreed to pay $20 million each to financial regulators and the billionaire will step down as the company’s chairman but remain as chief executive, under a settlement that caps a tumultuous two months for the car-maker. The securities fraud agreement, announced by the Securities and Exchange Commission (SEC…Read More

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