Denholm to replace Musk as Tesla chairman
Electric car pioneer Tesla on Thursday named an Australian telecommunications executive to lead its board of directors, after
forced by US authorities to step The appointment
man of Robyn
with Telstra and already a Tesla board member, is effective immediately, but she will serve out her six-month notice period with the Australian company, Tesla said in a statement.
chairman under a September arrangement with US regulators to settle fraud charges stemming from a tweet in which he said he
do it.
Under that settlement, he and Tesla each had to pay a $20-mil-
stay on as chief executive.
He will help ease the 55-yearold Denholm’s transition, accord-
“To ensure a smooth transition during the remainder of Robyn’s time at Telstra, Elon will be a resource to Robyn and provide any support that she requests in her role as chairman,” it said.
in her time on Tesla’s board.
“Robyn has extensive experience in both the tech and auto indus-
contributions as a Tesla board member over the past four years
company,” he said in the Tesla statement.
more closely with Robyn as we continue accelerating the advent of
Denholm said: “I believe this company, I believe in
in its
helping Elon and the Tesla team
and drive long-term shareholder value.”
Tesla’s share price jumped more than 2 percent shortly after trading opened on the Nasdaq to $355.30. - after the US Securities and Robyn Denholm.
Exchange Commission charged him with securities fraud, alleging that he misled investors when he tweeted on August 7 that he had “funding secured” to delist Tesla at $420 a share, a substantial premium over its share price at the time.
The tweet was one of a number of issues that raised questions about the billionaire entrepreneur’s aptness to lead Tesla. AFP Days after settling with the SEC,
- other tweet that labeled the agency the “Shortseller Enrichment Commission.”
That alluded to short sellers, investors who have bet that Tesla shares will fall and who are fre-
derision.
The tycoon was the subject of
joint during a September podcast interview in California and discussed the end of the universe.
-
at Telstra, Australia’s former telephone monopoly, since the start of October.
For 18 months prior to that, she was Telstra’s chief operations Telstra chief executive Andy Penn said: “We are sorry to see
that
it has become increasingly - sibilities as Telstra CFO with the increased activity of the Tesla board.”
On October 24, Tesla reported a “historic” profitable quarter driven by demand for its Model 3
the company remains burdened by billions in debt.