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Robyn Denholm Replaces Elon Musk As Chairman Of Tesla

Musk accepted the deal with the SEC "without admitting or denying the allegations of the complaint", according to a court document.

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Tesla acquires trucking firms to deliver Model 3 on time: Musk. Pixabay
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 Electric car company Tesla on Thursday announced the appointment of Robyn Denholm, an executive at Australian firm Telstra, to become the Chair of the Tesla Board.

Denholm takes over the role from Elon Musk who agreed to step down as Chairman of Tesla for three years and pay a $20 million fine in a deal with the stock market regulatory authority, Securities and Exchange Commission (S.E.C.) to resolve securities fraud charges.

Musk will remain as Tesla’s chief executive.

“Robyn will be leaving her role as CFO and Head of Strategy at Telstra, Australia’s largest telecommunications company, once her six-month notice period with Telstra is complete. Robyn will be serving as Tesla Chair on a full-time basis,” Tesla said in a statement.

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A Telsa car recharges at a Tesla charging station in Charlotte, N.C. VOA

To ensure a smooth transition during the remainder of Robyn’s time at Telstra, Musk will be a resource to her and provide any support that she requests in her role as Chair.

“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,” said Musk.

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

Denholm has served on the Tesla Board as an independent director since 2014.

Her global experience in both Australia and Silicon Valley encompasses leadership roles across a range of technology companies, including Telstra, Juniper Networks, and Sun Microsystems.

Tesla CEO Elon musk
Elon Musk agrees to step down as Chairman (VOA)

“I believe in this company, I believe in its mission and I look forward to helping Elon and the Tesla team achieve sustainable profitability and drive long-term shareholder value,” said Denholm.

The US SEC last month announced the deal with Tesla, after it sued Musk in federal court for misleading investors over his post on Twitter in August that he had “funding secured” for a buyout of the electric-car company at $420 a share, reports The New York Times.

Also Read: Elon Musk Shows a New Transportation System Being Developed Under LA

Musk accepted the deal with the SEC “without admitting or denying the allegations of the complaint”, according to a court document.

His tweet about taking his company private, along with attacks on critics on social media, raised concerns with investors about whether Musk has become too focused on criticism from so-called short-sellers who had been making bets against him and the company. (IANS)

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Tesla Acquires Trucking Firms To Ensure Early Delivery of Model 3: Elon Musk

Musk, who was the Chairman of Tesla for three years, stepped down earlier in September

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Tesla
Tesla acquires trucking firms to deliver Model 3 on time: Musk. Pixabay

Tesla has acquired trucking companies to ensure early delivery of Model 3 and help buyers get tax credits by the end of the year, the electric car company’s CEO Elon Musk said in a tweet on Friday.

Tesla had, originally, suggested that buyers who wanted to take advantage of the full $7,500 EV federal tax incentive would need to order their vehicles by October 15.

However, Tesla has reopened that window and extended it a fair bit.

“Tesla just acquired trucking capacity to ensure Model 3 can be delivered in US by December 31 if ordered by November 30,” Musk tweeted.

He explained that the automaker had “bought some trucking companies” and “secured contracts with major haulers” to avoid future logistical complications that have plagued Tesla as Model 3 deliveries rise dramatically.

That amounts to an extra six weeks of ordering time to take advantage of the $7,500 EV tax incentive before the phase-out begins for deliveries starting on January 1, CNET reported late on Thursday.

Buyers getting new Tesla delivery on or before December 31, will be eligible for the full $7,500 federal tax incentive.

Elon Musk, tesla
Tesla CEO, Elon Musk. (Wikimedia Commons)

For deliveries between January 1 and June 30, 2019, the incentive will be halved to $3,750, and it will further be halved for another six months before disappearing entirely.

Those waiting for the fabled $35,000 Model 3 will miss the full incentive, as the vehicle is on target for the first half of 2019, the report said.

While Tesla declined request for additional information, including the names of the acquired companies and those with which Tesla has secured contracts, Musk said that they are going to ship east with the trucks instead of trains, which is shortening the transit times by weeks.

“Skipping rail saves over a month for East Coast deliveries. All things considered, it’s better to use trucks. Single load or unload and direct to owner location,” Musk wrote.

Also Read- Google Rolls Out New System Update to “Wear OS”

Musk, who was the Chairman of Tesla for three years, stepped down earlier in September.

He paid a $20 million fine in a deal with the stock market regulatory authority, Securities and Exchange Commission (SEC) to resolve securities fraud charges.

Robyn Denholm from Telstra has been appointed as the Chairwoman of the Tesla Board. Musk, however, remains as Tesla’s chief executive and the biggest investor. (IANS)