Elon Musk, CEO of Tesla and SpaceX, is resigning from Endeavor’s board of directors, according to the company’s filing to the SEC made public on Wednesday.
Musk’s resignation will be effective June 30, and the company led by CEO Ari Emanuel will also shrink its board of directors from eight people to seven, with Musk not being replaced.
Musk had joined the Endeavor board along with the company’s IPO last year. Musk notified the board of his decision on Saturday. Musk was not expected to remain on the board long-term, and his joining the board was a rare one outside of a company that he already owns.
“We thank Elon Musk for his commitment to Endeavor through our first year as a public company, in which he contributed meaningfully to our long-term strategy and vision for the future of sports and entertainment. We know he has a lot of demands and little time, and we appreciate the support he provided us,” an Endeavor spokesperson told TheWrap.
“The board of directors approved reducing its size from eight to seven members subject to and effective upon the effectiveness of Mr. Musk’s resignation. Mr. Musk’s resignation was not the result of any disagreement with the Company on any matter relating to its operations, policies or practices,” the filing says.
Endeavor completed its first year as a public company and with this latest filing for Q4 beat analyst expectations, despite a loss of $468 million.
Musk was named Time Magazine’s Person of the Year in 2021, and it was recently reported that he and the singer Grimes welcomed a second child last year but that the couple split up in September.
