On Monday, the US automaker Tesla issued a mandatory notification (PDF) to the US Securities and Exchange Commission ( Securities and Exchange Commission) confirmed two official changes affecting corporate governance.
CEO Elon Musk is afterwards immediately “Technoking of Tesla” and CFO Zack Kirchhorn is “Master of Coin”. Nothing will change in the scope of the areas of activity. The company did not explain why Tesla is changing the titles of its top staff either in the context of the submission or at the request of the Wall Street Journal (WSJ).
What should the title mean?
The title “Master of Coin” seems to be the most likely to explain. That should have a double meaning. On the one hand, Kirchhorn, as chief financial officer, is – if you will – the “master of the coins”. On the other hand, it will be an allusion to Tesla’s Bitcoin Invest over 1.5 billion US dollars.
What the meaning of the title “Technoking” is, however, is not so easy to interpret. Wedbush analyst Dan Ives, always sympathetic to Tesla, interpreted the title change in a memo from Monday as an expression of the automaker’s self-assessment. Tesla would be convinced that it would be one of the technological disruptors in the long term. You see yourself at the forefront of a development, accordingly you are the technoking, represented by the CEO Elon Musk.
A little bit of fun is always good?
Certainly the title changes are simply an expression of Musk’s own sense of humor. The SEC has already attacked him several times. It is quite possible that Musk makes fun of regulations in this way without breaking them.
Besides the Technoking and the Master of Coin, Tesla had another beautiful title to award on Monday. For example, ex-Daimler manager Jerome Guillen, who previously headed Tesla’s automotive business, was appointed “President of Heavy Trucking”.
Tesla’s move is not completely unusual either. Brightly colored titles are almost a good form in American corporate culture, especially among young tech companies. Who has not heard the titles “Chief Happiness Officer”, “Chief Evangelist” or various variations of Guru, Jedi or Ninja?