Monday, April 19, 2021
Home Science & Technology Robyn Denholm Replaces Elon Musk As Chairman Of Tesla

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.

 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)

STAY CONNECTED

19,517FansLike
362FollowersFollow
1,773FollowersFollow

Most Popular

Something Screened On Your Phone Can Not Erase A Huge Screen, Says Boman Irani

Good writing is the need of the hour, feels actor Boman Irani, to sustain audience interest at a time when OTT provides a surfeit...

The Truth Behind Why Airliners Don’t Fly Over Tibet

BY- JAYA CHOUDHARY Airplanes can fly for thousands of kilometers across the globe. Rockets have landed men on the moon and Elon Musk plans to...

Symptoms Affecting Daily Life Post Covid Recovery

Are you a Covid-19 survivor, but still feel fatigued and not having fully recovered? You may be experiencing what is known as "Long Covid"....

Study Highlights How An Asthma Drug Can Speed Up Recovery From Covid-19

Inhaled budesonide -- primarily an asthma drug -- can shorten recovery time among Covid patients aged over 50, according to a study. Early treatment...

Covid-19 Self-Prescription May Impact Liver, Urge Doctors

The Covid-19 surge across the country has not just led to a scramble for hospital beds but has also resulted in people opting for...

‘Humans Taught To Earn Money But Not Coincide With Nature’, Says Actor Sayaji Shinde

Actor Sayaji Shinde, who is an environment crusader along with being a popular face in the Indian film and theatre world, feels that humans...

A Complete Guide To Learn About Different Bitcoin Trading Strategies!

By Jean Nichols Everyone wants to make massive profits, but it is not an easy task as it requires a lot of knowledge and effort....

Some Of The World’s Oldest Professions That Still Exist Today

BY- Laura Dosil As technology becomes ever increasingly a big part of our lives, particularly in the workplace, there are still some jobs that are...

Recent Comments