Musk out, Tel­stra exec in at Tesla

The Daily Telegraph (Sydney) - - News -

TESLA has ap­pointed Tel­stra’s chief fi­nan­cial of­fi­cer to take over as chair­man from bil­lion­aire Elon Musk as part of a set­tle­ment with US reg­u­la­tors.

The elec­tric car maker said Robyn Den­holm, one of its nonex­ec­u­tive di­rec­tors, had been ap­pointed to the role with im­me­di­ate ef­fect.

It ends spec­u­la­tion about who will fill Mr Musk’s shoes af­ter the chief ex­ec­u­tive was banned from hold­ing the role of chair­man for three years.

That fol­lowed a set­tle­ment with the Se­cu­ri­ties and Ex­change Com­mis­sion, which ac­cused the bil­lion­aire of fraud when he said a plan for tak­ing Tesla pri­vate had “fund­ing se­cured”.

Ms Den­holm, who is al­ready chair of Tesla’s au­dit com­mit­tee, will re­main as Tel­stra CFO for six months be­fore join­ing Tesla.

“I look for­ward to help­ing Elon and the Tesla team achieve sus­tain­able prof­itabil­ity and drive long-term share­holder value,” she said in a state­ment re­leased by Tesla. Mean­while, Mr Musk em­pha­sised the tech com­pany’s push into re­new­able en­ergy in his praise for Ms Den­holm.

“I look for­ward to work­ing even more closely with Robyn as we con­tinue ac­cel­er­at­ing the ad­vent of sus­tain­able en­ergy,” he said in the state­ment.

Robyn Den­holm.

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