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Mr Murdoch, chief executive of 21st Century Fox, who joined Tesla as an independent director a year ago, has indicated that he would like the job, the Financial Times said. "The settlements, which are subject to court approval, will result in comprehensive corporate governance and other reforms at Tesla - including Musk's removal as Chairman of the Tesla board - and the payment by Musk and Tesla of financial penalties".

T. Rowe Price Associates held 17.4 million shares of Tesla at the end of last month, as per a filing with the SEC.

Tesla's board has not made a final decision on who should...

The trademark is for "distilled agave liquor" and "distilled blue agave liquor", the report said. Twenty-First Century Fox declined to comment. Tesla also filed an "intent to use" trademark for the product, which means that while the company is not using the "Teslaquila" brand today, it has a "good faith intention" to use it in the future.

Importantly, the settlement requires Tesla to add two new independent members to its board, which is dominated by Musk allies including his brother and longtime investors and friends.

Murdoch now serves on the boards of Twenty-First Century Fox and News Corp. Clyde has been working as a freelance journalist for almost a decade having published stories in many print and digital publications including, the Financial Post and the Huff Post Canada.

Murdoch replaced his father as chairman of Sky in 2007, but was forced out in 2012 after being embroiled in Britain's phone-hacking scandal.

Hamilton calls for 'more respect' for Vettel
But while Mercedes has been a well-oiled machine this season, several costly errors from Ferrari and Vettel have allowed their rivals to build a near-unassailable lead.

"I would still have reservations about the time he would be able to allot to this", Keatinge said.

The report breaking the news cited two unnamed sources familiar with the ongoings.

"It's a good reminder to the board that ultimately it is the stockholders that matter", he said.

This news comes on the heels of word that James is stepping down after the sale of 21st Century Fox's assets to Disney wraps up.

What started as an April Fools' Day joke that left a poor taste in Tesla Inc. investors' mouths may soon become a reality. Financial Advocates Investment Management now owns 3,864 shares of the electric vehicle producer's stock worth $1,028,000 after purchasing an additional 176 shares in the last quarter.

Musk got to keep his job as CEO and stay on the board, but has to relinquish the post of chairperson and can't be re-elected to the role for three years.