Elon Musk to resign his Board of director position from Endeavor Group
“Elon Musk’s resignation will be effective from June 30, 2022,” Endeavour announced in its annual report with the SEC. As per the Hollywood Reporter.
Elon Musk, a founder of Tesla and the CEO and chief engineer of SpaceX announced his resignation on Saturday, March 12 from the Board of directors position. He joined the Endeavour group a year before along with the IPO. This is a Hollywood Conglomerate whose holdings include the William Morris talent agency and Ultimate Fighting Championship.
” We thank Elon Musk for his commitment to Endeavour through our first year as a public company, in which he contributed meaningfully to our long-term strategy and vision for the future of sports and Entertainment. We know he has a lot of demands and little time, and we appreciate the support he provided us.”, an Endeavor spokesperson said.
” The board of directors approved reducing its size from eight to seven members subject to an effect upon the effectiveness of Mr Musk’s resignation. It was not the result of any disagreement with the company on any matter relating to its operations, policies or practices.”
According to the reports, The Board of directors will shrink its board of directors from eight people to seven with Musk not replaced. It is also said that Musk Joining outside his company is rare and not expected him to be a part of a long-term.
