Electric carmaker Tesla has given its founder and CEO Elon Musk the new title of Technoking while Zach Kirkhorn, the company's chief financial officer, will now be known as "Master of Coin," Tesla said in a filing with the Securities and Exchange Commission (SEC) on Monday.
The new titles will come into effect immediately, the company said.
However, "Elon and Zach will also maintain their respective positions as Chief Executive Officer and Chief Financial Officer," the filing stated.
Also read: Tesla investor sues Elon Musk over 'erratic' tweets
Musk, who has more than 41 million followers on Twitter and a fortune now estimated at more than $180 billion, has run into rough weather with regulators at the SEC on several occasions and boldly questions them on social media.
In 2018, the SEC had charged Musk with fraud and imposed a $20 million fine on him. He was also asked to step down as Tesla chairman after he tweeted out a plan to take the company private.
Also read: Tesla in talks with Tata Power for electric-car charging points in India
Musk has also become part of the new online fascination with digital art forms known as "NFTs," which are virtual objects that can be sold with a certificate of authenticity proving that they are, in theory, non-piratable due to the blockchain technology that was popularized by cryptocurrencies such as Bitcoin.
Musk announced on Twitter that he would be selling a video clip of techno music about NFTs, or Non-Fungible Tokens, as an NFT.
The cryptocurrency website Cointelegraph said bidding on the NFT had risen to $100,000 in the first hour after Musk made the announcement, even though Musk has not put the song up for sale as yet.
