Hyperdrive
Tesla Go-Private Effort Advances With Board Panel to Study Offer
- Two finance experts on committee to evaluate potential deal
- CEO blames public ownership for short-term decision making
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An Australian telecom executive, the leader of a cosmetics company, and the former finance chief of Elon Musk’s solar-power company are now in charge of deciding Tesla Inc.’s fate.
The board of the electric-car maker formed a special committee to evaluate its chief executive officer’s proposal to take the company private, a day after he revealed more on who will advise him and help fund the potential deal. Directors Brad Buss, Robyn Denholm and Linda Johnson Rice compose the committee, which hasn’t received a formal proposal from Musk, according to a statement Tuesday. They haven’t reached any conclusion on whether taking the company private is advisable or feasible.