Cartoon of the Week: Tesla names Robyn Denholm new chairman
Tesla announced this week that it had appointed Robyn Denholm as Chairman of the Board of Directors to replace Elon Musk, who was forced to resign in early October by the US stock exchange police but was allowed to remain the manufacturer’s Managing Director.
This was part of the sanctions imposed by the stock exchange police, as we remember that the Securities and Exchange Commission (SEC), that it was prosecuting Elon Musk for “false and misleading statements”. This echoed the announcements of Tesla’s founder who had written on Twitter that he wanted to take his company off the American stock exchange and make the company private. Robyn Denholm, a member of the Board of Directors since 2014, replaces Elon Musk as Chairman of the Board of Directors. According to The Verge media, she has both Silicon Valley and automotive experience.
“I believe in this company, I believe in its mission and I look forward to working with Elon and the Tesla team to generate sustainable profitability and maintain share value over the long term,” said Robyn Denholm, current CFO of Australian telecom giant Telstra.
Her appointment takes effect immediately, but she will continue to perform her duties – which she has only been doing since early October – with her current employer for the next six months, Tesla explained in a statement.
Tesla’s founder said : « Robyn has a wealth of experience in the technology and automotive sectors. She has made a significant contribution as a member of Tesla’s Board of Directors over the past four years to help us become a profitable company. I look forward to working even more closely with her. Our objectives remain the same: to continue to accelerate the development of sustainable energy. »
« To ensure a successful transition during the period Robyn remains in Telstra, Elon will provide her with support and all the help she needs in her role as president, » said the electric car manufacturer.
On Wall Street, Tesla shares – which are part of the Nasdaq index, which is highly technologically colored – took 0.24% to $349.00 in pre-trade trading prior to Thursday’s opening trading.
Robyn Denholm‘s arrival at the head of the car manufacturer’s board of directors comes more than a month after Elon Musk was forced to resign from his position as chairman of the board following accusations of fraud
Beyond his resignation from the presence, Elon Musk had to pay a $20 million fine to repair his faults. The SEC explained at the time that Musk’s statements created «significant confusion in the stock market and harmed investors». The man who will remain Tesla’s CEO says, « Denholm has been a member of the Board of Directors since 2014, and is also CFO of Telstra, a leading Australian telecommunications provider. She will leave this position to assume her role as full-time president at Tesla. »