Tesla named Larry Ellison and Kathleen-Wilson Thompson to the company's board of directors. The electric car maker's stock jumped +3% on the news, during pre-market trading on Friday.
Ellison is currently the executive chairman and chief technology officer of Oracle Corp. Wilson-Thompson is the global head of human resources at Dow component Wallgreens Boots Alliance WBA.
Tesla indicated it was looking for independent directors who could would “complement the current board's experience". "In Larry and Kathleen, we have added a preeminent entrepreneur and a human resources leader, both of whom have a passion for sustainable energy", Tesla said.
Earlier this year, a settlement between Elon Musk and the Securities and Exchange Commission allowed Musk to remain CEO of the company but required him to step down as chairman of the board. Musk also agreed to pay $20 million. The settlement was a result of the SEC alleging that Musk posted a “false and misleading” tweet on August 7 about securing funding for taking Tesla private at $420 per share.