Tesla names Robyn Denholm as new chairwoman to replace Elon Musk

08 November, 2018, 16:00 | Author: Eric Barnett
  • Robyn Denholm has been an independent director at Tesla since 2014

Investors had also called for stronger oversight of Mr Musk after his erratic behaviour attracted attention.

Ms Denholm is now Chief Financial Officer at Australian biggest telecoms company, Telstra, and already sits on the board of Telsa as an independent director.

Denholm had already served as a member of the Tesla board since 2014.

The country's top financial markets watchdog had filed fraud charges against Mr Musk, ...

The settlement requires Tesla to install an independent chairman, among other penalties.

United States authorities sued Mr Musk for misleading investors and as a result Tesla and Mr Musk were each required to pay a fine of $20m.

The announcement scotches reports that James Murdoch was the frontrunner for the job.

Tesla weathered a rocky few months in the wake of Musk's tweets that he had "funding secured" for a deal, later scuttled, to take Tesla private.


That alluded to shortsellers, investors who have bet that Tesla shares will fall and who are frequently the subject of Musk´s derision.

The settlement in late September with the Securities and Exchange Commission allowed Musk to remain CEO of Tesla but required him to relinquish his role as chairman for at least three years.

The 55-year-old Australian will temporarily step down as chair of Tesla's audit committee until she quits Telstra.

Tesla, which has never reported an annual profit, also came under strain over production schedules for its Model 3 electric auto, its newest vehicle aimed at a wider market.

Tesla says Denholm will leave Telstra after her six-month notice period with the company is complete.

Aside from her work at Telstra, she has also spent time at technology majors including Juniper Networks and Sun Microsystems.

A statement from Ms Denholm said she believed in Tesla and looked forward "to helping Elon and the Tesla team achieve sustainable profitability and drive long-term shareholder value".

Recommended:



Popular

Andy Robertson confident Liverpool can win away to Paris Saint-Germain
Liverpool are second in their group behind Napoli although the sides have the same number of points. Red Star made it 2-0 just seven minutes later when Pavkov fired home from 25 yards out.

Driver charged in death of actress' toddler kills herself
But in May she was arrested at her home and charged with manslaughter, criminally negligent homicide and assault. Dorothy Bruns , 44, was found dead in her Staten Island home by a friend on Tuesday afternoon.

Ariana Grande's Full Performance of 'Thank U, Next' Is Here
The split happened in the wake of the overdose death of another of the singer's ex-boyfriends, Mac Miller , in September 2018. Listen to Newsbeat live at 12:45 and 17:45 every weekday on BBC Radio 1 and 1Xtra - if you miss us you can listen back here.

Trump Announces He's Replacing Jeff Sessions with a Critic of Robert Mueller
He took credit for reversing a recent rise in violent crime and for taking a hardline stance on illegal immigration and gangs. An element of Mr Mueller's investigation includes whether Trump or anyone in the campaign tried to obstruct justice.

''Sit down. You are very rude
WOW - Trump unloads on Jim Acosta , says "CNN should be ashamed of themselves having you working for them". 'That's enough . Acosta repeatedly presses Sanders in her rare briefings to clarify quotes and policy from the president.

Nadal confirms his absence from ATP finals - USA
The 32-year-old took to social media to announce that ongoing abdominal and ankle injuries have brought his season to an end. So yes, the Swiss legend, Roger Federer and the invincible man from Serbia, Novak Djokovic hold the crest at the tournament.

3 states pass marijuana legislation in midterm elections
State laws allowing recreational use of marijuana have spread across the United States since Colorado voters approved one in 2012. Amendment 3, on the other hand, would have placed a 15 percent tax on weed you'd buy at a storefront, and a tax on wholesale bud.

Speculation mounts that Meghan Markle's mum will move to UK
Meghan and Harry will wait a number of days before they reveal the newborn's name, it has been claimed. It looks like the Royal Family will be adding a seat to their Christmas table this holiday season.

The best of the 2018 European Music Awards red carpet
The 21-year-old Cabello beat out Ariana Grande , Drake , Dua Lipa and Post Malone for best artist at Sunday's show. And many singers from around the world hit the right notes when it came to dressing to the nines for the occasion.

Geri Halliwell's Spice Girls Confession Just Spiced Up Our Lives
Spice Girls superfan Adele has shared a hilarious throwback picture to celebrate the girls bands tour announcement. We want new fans, that we get introduced to all the time. "It was a huge moment in my life when they came out".