Elon Musk, CEO of U.S. electric automaker Tesla, will resign as chairman of the company's board of directors and pay a 20-million-U.S.-dollar fine, under a deal with the U.S. Securities and Exchange Commission (SEC).
Under the deal, Musk will remain as Tesla's CEO.
The SEC took action against Musk for alleged securities fraud over a tweet in August related to taking Tesla private - a "plan" he later abandoned.
