Arthur J. Villasanta – Fourth Estate Contributor
Hawthorne, CA, United States (4E) – Australian Robyn Denholm, 55, has been appointed Chairman of Tesla, Inc replacing Elon Musk.
Her appointment takes effect immediately. Musk is barred from being chairman for another three years but will retain his post as CEO.
Denholm has served on Tesla’s board since 2014. She’s currently Chief Financial Officer and head of strategy at Telstra, Australia’s largest telecommunications company. Tesla says Denholm will leave Telstra after her six-month notice period with the company is complete.
“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 Chair,” said Tesla. “Robyn will continue to provide the necessary focus and time to Telstra during the remainder of her time there, and she will also temporarily step down as Chair of Tesla’s Audit Committee until she leaves Telstra.”
Denholm has held senior management roles in both Australia and Silicon Valley, and has worked for Juniper Networks and Sun Microsystems.
“I look forward to working even more closely with Robyn as we continue accelerating the advent of sustainable energy,” said Musk
The removal of Musk as Chairman was one of the conditions imposed by the U.S. Securities and Exchange Commission (SEC) for not going ahead with a plan to sue Musk for manipulating the stock market and for making “false and misleading” statements to investors.
The SEC originally asked the court to ban Musk from acting as an officer or director of any publicly traded company.
Two days after the SEC filed the lawsuit in August, Musk reached a settlement with the commission. He agreed to pay a personal fine of $20 million; a separate $20 million fine by Tesla and his resignation as Tesla Chairman.
Article – All Rights Reserved.
Provided by FeedSyndicate