Endeavor Group Holdings announced Musk’s departure in its annual report to the Securities and Exchange Commission, stating that his resignation will be effective June 30. Along with the company’s IPO last year, Tesla’s founder joined the Endeavor board.
According to news agency ANI, Tesla founder Elon Musk will resign from the board of directors of Endeavor Group Holdings, the Hollywood conglomerate whose properties include the William Morris talent agency and the Ultimate Fighting Championship. According to reports, the company led by CEO Ari Emanuel will also reduce its board of directors from eight to seven members, with Musk not being replaced.
According to The Hollywood Reporter, Endeavor Group Holdings announced Musk’s departure in its annual report to the SEC, stating that his resignation will be effective June 30, 2022.
Musk joined the Endeavor board of directors following the company’s IPO last year. Musk informed the board of directors of his decision on Saturday. Musk was not expected to stay on the board for long, and his appointment was unusual outside of a company in which he already has a stake.
“We thank Elon Musk for his dedication to Endeavor during our first year as a public company, during which he made significant contributions to our long-term strategy and vision for the future of sports and entertainment. We understand he has a lot on his plate and little time, and we appreciate the help he gave us “According to a spokesperson for Endeavor. Musk resigned on March 12, according to the company, and it was not due to any personal reasons.
“The board of directors approved reducing its size from eight to seven members, subject to and effective upon Mr. Musk’s resignation becoming effective.” “Mr. Musk’s resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices,” according to the filing.