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Tesla Changes Up Its General Counsel After Tough Year In Legal

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Tesla Changes Up Its General Counsel After Tough Year In Legal
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Tesla Inc (NASDAQ: TSLA)’s year of resignations isn’t over yet. Late Wednesday, the automaker counted its general counsel among an ever-expanding list of high-level departures.

What Happened

Head lawyer Todd Maron will conclude his five-year tenure with Tesla and hand the reins over to D.C. trial lawyer, Dane Butswinkas, chairman of Williams & Connolly.

“Being part of Tesla for the last five years has been the highlight of my career,“ Maron told the Wall Street Journal. ”Tesla has been like family to me, and I am extremely grateful to Elon, the board, the executive team, and everyone at Tesla for allowing me to play a part in this incredible company.”

Tesla gave no reason for the departure, but said it had begun planning the transition in July.

Why It’s Important

Tesla’s high rate of executive turnover reflects the firm’s high-stress culture. Heads of sales, engineering, public relations and human resources have all left under the strain, and given the amount of legal scrutiny Tesla and its leader have incurred over the last few months, counsel has not been immune from the pressure.

One of Maron’s last achievements at Tesla was negotiating a settlement with the Securities Exchange Commission to keep CEO Elon Musk at the helm after misleading investors to believe the company would go private.

While the disruption of Maron’s departure is not ideal, Tesla has thrived beyond other high-profile losses.

What’s Next

Maron will assist with the transition until January, and Butswinkas will begin reporting directly to Musk.

Butswinkas "represented former Jefferies & Co. trader Jesse Litvak, who was convicted twice of defrauding customers by lying about the prices of mortgage-backed securities in trades. Butswinkas handled the second trial. Both convictions were overturned on appeal," according to Bloomberg.

"He also represented Walt Disney Co.’s ABC television network in a defamation suit by Beef Products Inc. over news reports about a processed product ABC called 'pink slime,' Bloomberg said.

Related Links:

Tesla's Chief Accounting Officer Leaves Company One Month After Taking The Job

Andrew Left Accuses Tesla, Elon Musk Of Stock Manipulation In Class Action Lawsuit

Posted-In: Andrew Left Dane Butswinkas Elon MuskNews Short Sellers Legal Top Stories Media Best of Benzinga

 

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