Elon Musk’s removal as chairman of Tesla Inc. potentially weakens his grip, as investors hope a remade board will help the entrepreneur focus on solving production problems that have threatened to stymie the car maker’s move into the mainstream. Mr. Musk’s deal with U.S. securities regulators, a stunning turnaround announced over the weekend, allows him to remain chief executive and keep his board seat—terms that permit the man who has become synonymous with Tesla to retain a considerable degree of power.

Source: Wall Street Journal October 01, 2018 00:00 UTC