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Elon Musk disses SEC, shrugs off losing chairman role

Elon Musk disses SEC, shrugs off losing chairman role

"I can just call for a shareholder vote and get anything done that I want," he told 60 Minutes.

Tesla CEO Elon Musk has reaffirmed his disdain for the Securities and Exchange Commission after being forced to step aside as chairman.

The executive's tussle with the SEC traces back to his Twitter post announcing plans to go private at $420 per share. The deal never materialized and the tweet attracted the attention of the SEC, leading to a settlement that forced Musk out of his role as chairman but allowed him to stay on as CEO.

"I want to be clear. I do not respect the SEC," he told 60 Minutes in a recent interview. "I do not respect them."

Musk says he respects the justice system and will follow the terms of the settlement. He argues that the changes will not have a tangible impact on his control of the company, however.

"I am the largest shareholder in the company," he noted. "And I can just call for a shareholder vote and get anything done that I want."

The executive says he is unlikely to return to the chairman position in coming years after the settlement terms eventually lift restrictions on his board membership.