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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, board
Tesla to lay-off 7% full-time staff amid China dreams. Pixabay

 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.

tesla
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)

Next Story

Self-driving Tesla Robotaxi Coming in 2020, Claims Elon Musk

Uber has shortlisted five countries — India, Japan, Australia, Brazil and France — and a city in one of them will become the first Uber Air City outside of the US

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Tesla CEO Elon musk, board
Tesla CEO Elon Musk. (VOA)

Tesla CEO Elon Musk has said that the electric car maker is ready to fly autonomous robotaxis from 2020.

Making a series of bold predictions during the Tesla Autonomy Day at the Palo Alto-based headquarters late on Monday, Musk said the company expects to get necessary approvals by 2020.

“I feel very confident predicting that there will be autonomous robotaxis from Tesla next year — not in all jurisdictions because we won’t have regulatory approval everywhere,” TechCrunch reported Musk as saying.

“In places where there aren’t enough people to share their cars, Tesla would provide a dedicated fleet of robotaxis,” the report added.

Tesla Founder and CEO hoped that robotaxis would return home and automatically park and recharge.

Tesla also unveiled a new Samsung-made microchip that, the company said, was being included in every new car.

Charging problems with electric car
Tesla cars recharge at a Tesla station at a shopping center in Charlotte, N.C., June 24, 2017. Buyers of Tesla’s luxury models have access to a company-funded Supercharger network. VOA

Musk said that by the middle of 2020, Tesla’s autonomous system will have improved to the point where drivers will not have to pay attention to the road.

“We will have more than one million robotaxis on the road,” Musk said. “A year from now, we’ll have over a million cars with full self-driving, software… everything.”

He said Tesla would soon develop cars that could last for at least one million miles with minimal maintenance.

Taxi hailing company Uber is also planning the next generation of transportation – flying taxis.

Also Read- Microsoft Employees Decry ‘996’ Chinese Work Culture

It has named Dallas and Los Angeles in the US as the first two cities for the commercial launch of its aerial taxi service by 2023 and has been on the lookout to select an international city as its third partner.

Uber has shortlisted five countries — India, Japan, Australia, Brazil and France — and a city in one of them will become the first Uber Air City outside of the US. (IANS)