Tesla, Inc. TSLA and its flamboyant CEO Elon Musk never cease to surprise. The company announced a new title for its CEO without going into details of the logic behind the move in a Monday SEC filing.
What Happened: Musk will be known as "Technoking of Tesla" and the company's CFO Zach Kirkhorn as "Master of Coin," effective Monday, the company said in the filing.
The bizarreness of the added titles does not end there: the company chose to remain obscure regarding the reason behind the changes.
Musk and Kirkhorn will continue to retain their positions as CEO and CFO, respectively.
Tesla announced in early February that it has invested about $1.5 billion in Bitcoin BTC/USD, saying the move would provide more flexibility to further diversify and maximize returns of surplus cash. It also said it will begin accepting Bitcoin as a payment option on a limited basis in the near future.
Musk has also been backing Dogecoin in a big way through his tweets.
Guillen Named Head Of Heavy Trucking: In a separate filing, Tesla announced Jerome Guillen, Tesla's president of automotive, has transitioned to the role of president of its heavy trucking business effective March 11.
Guillen has overseen the company's vehicle programs, supply chain and service infrastructure.
"As Tesla prepares to enter the critical heavy trucks market for the first time, Mr. Guillen will now leverage his extensive background in this industry to focus on and lead all aspects of the Tesla Semi program, including the related charging and servicing networks," the company said in the filing.
TSLA Price Action: In premarket trading Monday, Tesla shares were down 0.68% at $689.04.
Tesla CEO Elon Musk. Courtesy photo.
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