Tesla picks an insider to replace Elon Musk as chair after turmoil
the company’s audit committee until she leaves Telstra.
“Robyn has extensive experience in both the tech and auto industries, and she has made significant contributions as a Tesla board member over the past four years in helping us become a profitable company,” Musk said in the statement. “I look forward to working even more closely with Robyn as we continue accelerating the advent of sustainable energy.”
In typical style, he followed the official comment up with a tweet.
“Would like to thank Robyn for joining the team. Great respect. Very much look forward to working together,” Musk tweeted early on Thursday.
The reported in October that outgoing Twenty-first Century Fox Inc chief executive officer James Murdoch was the lead candidate for the job, citing two people briefed on discussions. Musk later tweeted that this was “incorrect.”
Murdoch is also an independent director on Tesla’s board.
The carmaker last month quieted some critics after it reported a net profit and positive cash flow in the third quarter as higher production volumes of Model 3 sedans began to pay off, delivering on Musk’s promise to turn the company profitable.
A Tesla spokeswoman said Denholm would receive an annual cash retainer of $300,000 and 8,000 stock options annually. The spokeswoman also said Tesla was actively looking for two additional independent directors.
Tesla’s shares, which were up marginally at $349 in early trading on Thursday, have gained about 12% this year.
“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,” Denholm said in the statement.