Tuesday, June 28, 2016

SolarCity appoints a two-person committee to decide whether to sell to Tesla - Recode

An already vertically integrated board

"Kendall, who is the CEO of investment management firm Kenmont Solutions Capital, is the only person on the SolarCity board without a direct connection to Tesla.

Pfund, on the other hand, is the founder and managing partner of DBL Investors, which invested in Tesla and served on the car company’s board before the company went public.

All but one of the other SolarCity board members — company chairman Musk; CEO and Musk’s cousin Lyndon Rive; CTO and other Musk cousin Peter Rive; CEO of Valor equity partners and Tesla board member Antonio Gracias; and Tesla co-founder and CTO J.B. Straubel — have recused themselves from voting on whether to accept Tesla’s $2.8 billion offer. John Fischer, who is a partner in Tesla and Solar City investor Draper Fisher Ventures, has not officially recused himself."
SolarCity appoints a two-person committee to decide whether to sell to Tesla - Recode
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