Tesla replaces Elon Musk, names Telstra executive Robyn Denholm as chairperson

Galtero Lara
Noviembre 8, 2018

Tesla had until next Tuesday to name an independent board chairman under the settlement with the U.S. Securities and Exchange Commission (SEC), which said Musk's tweets about taking the company private were fraudulent and that the billionaire could retain his role as CEO but should quit as chair for at least three years.

It all started with an August 7 tweet.

The SEC accused him of manipulating the market and sued him in late September for making "false and misleading" statements to investors.

Tesla is searching for two more independent directors. "We allege that he had not even discussed key deal terms including price with any potential source of funding".

Tesla has named an Australian executive as its new chairman after Elon Musk was forced to give up the role.

The tweet was one of a number of public statements by Musk that raised questions in the industry about his aptness to lead the company. In a suit, the SEC originally asked the court to ban Musk from acting as an officer or director of any publicly traded company.

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Tesla announced Denholm's appointment weeks after the Financial Times reported that James Murdoch, who also sits on Tesla's board, was the frontrunner.

Robyn Denholm, the finance chief of Australian telecoms firm Telstra, takes over from the electric vehicle maker's founder, who remains chief executive.

Denholm takes over as Tesla's chair immediately and will leave her role as CFO and head of strategy at Telstra once her six-month notice period with the company is complete, Tesla said on Wednesday. In the meantime, she'll work closely with Musk.

"I believe in this company, I believe in its mission and I look forward to helping Elon and the Tesla team achieve sustainable profitability and drive long-term shareholder value", it quoted her saying.

Electric auto company Tesla has appointed an executive at Australian company Telstra to chair its board.

Before moving to Telstra, she worked for Silicon Valley firms Sun Microsystems and Juniper Networks as well as consultants Arthur Anderson and Toyota.

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