- Denholm to Replace Musk as Tesla’s Board Chair
Tesla Inc on Tuesday said director Robyn Denholm will replace Elon Musk as the chair of the electric-car company’s board.
This is coming after the billionaire was asked to step down by U.S. regulators following a series of misleading tweets.
Denholm, one of the two women on Tesla’s board, is presently the Chief Financial Officer at Telstra Corp Ltd, an Australian telecoms operator and has been on Tesla’s board since 2014 as an independent director.
Denholm, 55, is expected to resign her role as CFO and head of strategy at Telstra once her six-month notice expires, a statement put out by Tesla Inc said.
The company said Denholm will serve as a full-time chair but temporarily step down as chair of the company’s audit committee pending her resignation with Telstra.
Musk, who has been on Tesla’s board since 2004, has until November 13 to step down as the company’s chairman under the agreed settlement term signed with the U.S. Securities and Exchange Commission.
As usual, Musk tweeted on Thursday thanking Denholm for accepting to take over as Tesla’s chair immediately.
Elon Musk said: “Would like to thank Robyn for joining the team. Great respect. Very much look forward to working together.”
Denholm will be expected to help the company ramp up production of its Model 3 sedans, sustain profitability and strengthen the company’s financial position.