Elon Musk Replaced by Robyn Denholm at Tesla

09 November, 2018, 04:46 | Author: Brooke Harris
  • 2018 Model X sits on display outside a Tesla showroom in Littleton Colo. Elon Musk???s murky future as Tesla Motors??? CEO amid a securities fraud lawsuit isn???t the only cloud hanging over the electric car make

Australia's Robyn Denholm will become the new chair of Tesla's board, replacing Elon Musk. She will give up these positions after serving a six-month notice period to take up a full-time chairman position at Tesla.

Denholm, 55, has been an independent director of Tesla since 2014 and the head of its audit committee. Besides Telstra, her previous experience includes Juniper Network, Sun Microsystems and Toyota. In media interviews he said he often slept on a sofa in the Tesla office and more recently in an online video he briefly smoked marijuana.

Denholm is now one of two women on the electric-car maker's board.

The Securities and Exchange Commission gave Tesla until November 13 to name an independent board chair after Musk tweeted in August that he had "funding secured" to take the company private.

Musk's successor, effective immediately, will be Robyn Denholm, a former Tesla board member and technology executive. Ltd., Australia's largest telecommunications company.

Tesla's court-approved settlement agreement with the SEC requires the company to appoint an "independent" chairman, although it does not define what it considers to be so.

Meet Trump's New Acting Attorney General, Matthew Whitaker
But the work is not done, and critical decisions await that could shape the remainder of Trump's presidency. For 18 months Rosenstein has allowed Mueller a generous budget and very broad mandate.

U.S. authorities sued the entrepreneur for misleading investors and he and Tesla were each fined $20m.

On Twitter Thursday morning, Musk wrote that he has great respect for Denholm. Since it went public in 2010, Tesla has posted a profit in only two quarters: once in 2013 and again in 2016.

It's the first time Musk has relinquished any control of the company since he became board chair and CEO in 2004.

A big jump in Tesla's output of its mass-market Model 3 auto powered the breakthrough. The aim is to provide stronger oversight to match Tesla's growing stature and market value. Musk tweeted his support for the decision.

Top proxy advisers Institutional Shareholder Services and Glass, Lewis & Co had each classified Denholm as an "independent" director of Tesla in reports to the carmaker's investors earlier this year.

Tesla has endured a hard few months, following comments Mr Musk made on social media in early August suggesting he had "funding secured" for a deal to take Tesla private. Even after the settlement was announced, Musk taunted the SEC, calling it the "Shortseller Enrichment Commission" before snidely praising it for "doing incredible work".

Recommended:



Popular

Android Will Soon Allow In-App Updates
Anyway, given its success-the app is used by over 30 million users each month-Google is rebranding Files Go to Files by Google . Well, despite the announcement, there's no exact time given by Google as to when we will see the API working on Android devices.

Runaway mining train in Australia travels 90km without driver
BHP is planning to draw from its stockpiles at Port Hedland as it repairs its rail service, The West Australian reported . Australia's Transport Safety Bureau said that a probe into the incident was underway on Monday.

White House yanks pass of CNN correspondent
CNN stood by him, writing in a statement that Sanders "provided fraudulent accusations and cited an incident that never happened". You're a very rude person the way you treat Sarah Huckabee is frightful and the way you treat other people are disgusting . "Mr.

Captain Kane happy to honour Rooney in England farewell
I think he's got 12 goals in 20 games, and it looks as if he's really enjoying life in America. He was captain when I got into the squad. "If he plays, of course he'll be the captain".

Final Fantasy XV DLC cancelled
That is with the exception of Episode Ardyn , which will still release next year as a final send-off for the game. Square Enix has announced that three of the four planned DLCs for Final Fantasy XV have been cancelled.

Trump says 'too bad' to Republican losers who refused to embace him
He reiterated that he was reviewing Interior Secretary Ryan Zinke job as well, following numerous reports of ethical violations. Bill Nelson, D-Fla. will be the second Democrat to lose his Finance committee seat if he fails to overtake incumbent Gov.

Thousand Oaks mass shooting: Multiple people injured at California bar
Firefighters and first responders have arrived on scene and the Ventura County Sheriff's Office is working to secure the scene. The attack has been upgraded to a level 2 mass casualty incident indicating that there are between 10 to 20 injured victims.

Democrats grab US House in blow for Trump
Jared Polis, who won the Colorado governor's race, is the first openly homosexual person to be elected governor in the U.S. More women than ever were running, along with military veterans and minorities, many of them motivated by Trump's rise.

Ghana: Prince Charles says visit to city evokes fond times
The Prince of Wales was handed a calabash instrument, and while nervous at first, soon found his rhythm. The Commonwealth has 53 member states who are all former colonists of Britain.

First two Muslim women elected to US Congress
Omar (D), 36, fled war-torn Somalia in the '90s and lived in a refugee camp before moving to the US. She spent four years in Dadaab until her family was cleared to emigrate to the US.