James Murdoch favourite to succeed Elon Musk as Tesla chairman

James Murdoch favourite to succeed Elon Musk as Tesla chairman
James Murdoch favourite to succeed Elon Musk as Tesla chairman

James Murdoch is reported to be in pole position to replace Elon Musk as chairman of electric car manufacturer Tesla.

Mr Musk agreed to leave his post as chairman to settle a Securities and Exchange Commission case alleging he broke securities laws in August.

It came after he wrote on Twitter he had “funding secured” to take Tesla private.

Tesla chairman

The Tesla founder will remain chief executive but the hunt is on to fill the chairman’s post by the middle of November.

And it has emerged James Murdoch, son of Sky founder Rupert and the outgoing chief executive of 21st Century Fox, is the favourite to succeed.

Elon Musk, the co-founder and chief executive of Electric carmaker Tesla, gestures during a ceremony in Dubai on February 13, 2017. Tesla announced the opening of a new Gulf headquarters in Dubai, aiming to conquer an oil-rich region better known for gas guzzlers than environmentally friendly motoring. / AFP PHOTO / KARIM SAHIB (Photo credit should read KARIM SAHIB/AFP/Getty Images)
Elon Musk will step down as Tesla chairman (Photo: Getty)

Mr Murdoch is already a non-executive director of Tesla.

But, according to the Financial Times, two people briefed on the discussions to find a replacement have indicated Mr Murdoch is the lead candidate for the job.

One commented: “The Tesla chairman job is perfect for James.”

Although, external candidates are also said to be under consideration.

Mr Murdoch, 45, will step down as chief executive of 21st Century Fox when the media group completes the sale of its entertainment assets to Walt Disney.

An insider told the Financial Times:”The Tesla chairman job is perfect for James.”

Left Sky

He has also stepped down as chairman of Sky following its recent sale to Comcast.

Earlier this year, leading US proxy advisers Glass Lewis & Co and Institutional Shareholder Services and investment adviser CtW Investment Group had recommended.

James Murdoch is once again one of the most powerful figures in global media
James Murdoch (Peter Macdiarmid/Getty Images)

Investors cast votes “against” James Murdoch as a Tesla director at the company’s annual meeting held on June 5.

While the latter cited a lack of relevant experience and a “troubled history as an executive and director,” both proxy firms warned that Murdoch already served on too many boards.

Neither Tesla nor Mr Murdoch have commented on this latest development.