Thursday, 15 November, 2018

Denholm replaces Musk as Tesla chairperson

A Tesla Inc. Model S electric vehicle is displayed at the company's showroom in Newport Beach California U.S. on Friday Tesla names new chair to replace Elon Musk
Elsie Buchanan | 09 November, 2018, 16:47

Tesla says Robyn Denholm of Australia's Telstra has been appointed as chair of its board, replacing Elon Musk.

Denholm is now the Chair of Tesla's Audit Committee a role she will step away from until her initial 6 month notice period is complete.

'I look forward to working even more closely with Robyn as we continue accelerating the advent of sustainable energy'.

Jumping over to Sun Microsystems, Denholm shifted from a director's role in Australia to various senior finance positions in Silicon Valley.

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

Enlarge / Robyn Denholm is the new chair of the board at Tesla.

That drove up Tesla's stock price and hurt short-sellers, investors who bet against the company's success.

She is now just one of two women on the board of Tesla. The SEC opened up an investigation into the Tesla leader's tweets regarding an effort to turn the publicly traded company into a private one via a massive stock buyback, funding for which was ultimately not secured.

And finally, a fake newsreader for China's real news
The anchors' facial expressions are also somewhat limited (and mildly unsettling) but it's still early days. It can read news in a synthesised voice, created to sound like a professional human anchor.


Musk cited Denholm's long experience in the tech and auto industries as strong advantages and said in a statement that he looked forward to working with her. "She's not a proven entity in this kind of work", she said.

Like anyone forced into self-punishment on a deadline, Elon Musk has waited until crunch time to find someone to take over as chairman role at Tesla until he can learn to never tweet.

This announcement counters the rumors reported earlier by The New York Times and The Financial Times that Tesla non-executive director and Murdoch media-empire scion James Murdoch was the lead candidate for the chairman role.

Email messages sent to Denholm Thursday were not immediately returned.

Charles Elson, director of the corporate governance center at the University of DE, said Tesla should have brought in someone from outside.

Denholm is one of the two female directors on Tesla's nine-member board since 2014.

Its shares soared following his comments but weeks later Mr Musk backed away from the plan, blaming feedback from shareholders. The mid-priced Tesla Model 3 was the fifth bestselling passenger vehicle in America, according to the industry analyst Edmunds.

Mr Musk and Tesla each had to pay a $27.5 million penalty under the September deal with the SEC, and he can not return as chair for three years.

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