Meet Tesla’s New General Counsel
Tesla has promoted Jonathan Chang to General Counsel, where he will lead Tesla’s global legal and policy teams. Chang most recently served as VP of Legal, where he managed Tesla’s corporate securities, mergers and acquisitions, real estate, compliance, and sales and distribution functions in the U.S. and Europe. He also served as Deputy General Counsel, Associate General Counsel, and Senior Corporate Counsel at the company. Prior to joining Tesla, Chang was the General Counsel at Lithium Technologies. The 1999 UC Berkeley graduate, who also holds a law degree from the University of Southern California, started his legal career as a Corporate Attorney at Latham & Watkins. The shakeup in leadership comes as Tesla CEO Elon Musk faces legal peril for tweeting inaccurate information about Tesla, violating an SEC agreement. In September, the SEC charged Musk with securities fraud. Tesla and Musk quickly reached a deal with the SEC: Musk would step down as Chairman of the company while retaining his chief executive role, and Musk would pay $40 million in fines. One final condition to the settlement: any material or forward-looking statements issued by Musk must be pre-approved by an internal Tesla process. Now the SEC is asking a judge to hold Musk in contempt for violating that agreement, claiming that a February 19th tweet published inaccurate and material information about Tesla to his over 24 million Twitter followers, including members of the press, and made this inaccurate information available to anyone with Internet access. More here.