Tesla added “Technoking of Tesla” to billionaire Chief Executive Elon Musk’s list of official titles on Monday in a regulatory filing with the Securities and Exchange Commission that also named finance chief Zachary Kirkhorn “Master of Coin.”
Kirkhorn and Musk will keep their more standard titles, too.
The inescapable connection is Musk’s 2018 agreement with the SEC to remove his title as part of a settlement, though the electric-car maker did not officially elaborate on the reasons for the new titles.
Musk had the title of Tesla chairman of Tesla, but lost it in the settlement with the SEC over misrepresenting funding. He had tweeted that he had “funding secured” to take Tesla private at $420 a share but there was no firm agreement on such funding with a Saudi sovereign wealth fund.
The SEC wanted to also take away Musk’s CEO title but the parties agreed on a $20 million fine plus the loss of the chairman title now held by Robyn Denholm.
In another statement, Tesla said President of Automotive Jerome Guillen had moved to the role of President for Tesla Heavy Trucking, effective March 11.
“As Tesla prepares to enter the critical heavy trucks market for the first time, Mr. Guillen will now leverage his extensive background in this industry to focus on and lead all aspects of the Tesla Semi program, including the related charging and servicing networks,” it said, having stated in January that it will begin deliveries of its long-delayed Tesla Semi in 2021.
Tesla is worth roughly as much as the world’s seven largest automakers combined. Its shares were trading at $703 Monday afternoon, down from its recent high of just more than $880 in late January.