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Tesla names Oracle, Walgreens execs as independent board members

Tesla Inc. appointed Larry Ellison and Kathleen Wilson-Thompson as independent directors, effective Dec. 27, satisfying one of the terms of the carmaker's settlement with the SEC regarding CEO Elon Musk's failed take-private.

Ellison is the founder, executive chairman and chief technology officer of software company Oracle Corp. Earlier this year, Ellison bought 3 million Tesla shares, according to the company's announcement.

Wilson-Thompson currently serves as executive vice president and global chief human resources officer of Walgreens Boots Alliance Inc. Previously, Wilson-Thompson spent 17 years at Kellogg Co.

The appointment of two independent directors was one of the terms of the agreement between the SEC, Tesla and Elon Musk to settle charges brought against the carmaker's CEO. The regulator also demanded that Musk resign as chairman and not resume the role for at least three years, that the company set up a new committee of independent directors, and that it introduce additional controls and procedures to supervise Musk's communications.

Tesla on Nov. 7 named Robyn Denholm as chairman. Denholm had been a Tesla independent director since 2014 and stepped down as CFO and head of strategy at Australian telecom company Telstra Corp. Ltd. to focus on the new role.

There are no related party transactions between Tesla and either of Ellison or Wilson-Thompson, the Dec. 28 filing said, but it noted a March 2017 Tesla Energy purchase and installation agreement pursuant to which a company of which Ellison is a significant shareholder purchased a microgrid energy system for a greenhouse farming project in Lanai for approximately $1.9 million.

"In Larry and Kathleen, we have added a pre-eminent entrepreneur and a human resources leader, both of whom have a passion for sustainable energy," Tesla's board of directors said in a statement.