Skip to main content

The board has undergone consistent restructuring ever since a $40 million settlement was reached with the Securities and Exchange Commission, according to Business Insider Australia.

The settlement required that Elon Musk, the company’s founder, be removed as Chairman and that two new independent actors are added to the board. In 2020, the board will be reduced to only seven directors.

Mizuno is a Japanese businessman. One of his most prominent roles was serving as the chief investment officer for Japan’s government pension fund. It is the world’s biggest pension fund and is worth $1.5 trillion. The fund invests in Tesla and owns $874 million in stock.

“We are excited that Hiro has joined our mission to accelerate the world’s transition to sustainable energy,” Tesla said in a released statement.

Tesla’s stocks did not experience a major change in value after the announcement.

Read full story here.