Tesla names board director to replace Musk

Tesla names board director to replace Musk

Tesla names board director to replace Musk

After weeks of speculation, we now know who's going to replace Elon Musk as chairman of Tesla's board of directors: The CFO of Australian telecom Telstra, Robyn Delhorm. "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".

Musk said: "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".

Tesla has endured a hard few months, following comments on social media in early August made by the firm's founder, Elon Musk, suggesting he had "funding secured" for a deal to take Tesla private.

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Tesla released a statement a short time ago saying that Denholm had handed in her notice at Telstra and would take on the full-time chair role "effectively immediately".

Denholm is now chief financial officer at Australian telecoms operator Telstra Corp Ltd and has been an independent director on Tesla's board since 2014.

"The market reacted to this information and Tesla's stock price quickly traded up", said Stephanie Avakian, the SEC's Co-Director of the Division of Enforcement, in a September news conference.

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We have fake news, we have problems with privacy, we have people being profiled and manipulated", he said in an opening address. Employees of Google , Facebook , and other tech giants have also voiced similar concerns publicly over the past few months.

Before moving to Telstra, she worked for Silicon Valley firms Sun Microsystems and Juniper Networks as well as consultants Arthur Anderson and Toyota.

Under that settlement he and Tesla each had to pay a $20 million fine but Musk was allowed to stay on as CEO.

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

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The appointment of Denholm caps months of turbulence for Tesla amid investor demands for stronger oversight. Musk had Musk later backtracked on the tweet, but the damage was done.

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