Robyn Denholm to replace Elon Musk as Tesla chair

Tesla CEO Elon Musk

Tesla has named an Australian executive as its new chairman after Elon Musk was forced to give up the role.

The announcement comes ahead of a November 13 deadline that was part of Musk's settlement with the U.S. Securities and Exchange Commission to end claims he misled investors.

Tesla announced that Elon Musk's replacement as its chair will be Robyn Denholm, now chief financial officer at Australian telecommunications operator Telstra.

The settlement requires Tesla to install an independent chairman, among other penalties.

The announcement scotches reports that James Murdoch was the frontrunner for the job.

Tesla has endured a hard few months, following comments Mr Musk made on social media in early August suggesting he had "funding secured" for a deal to take Tesla private. The financial regulator accused Musk of fraud and misleading investors, and fined him and the company $20m each.

More news: Xiaomi unveils Mi AirDots Youth Edition, $30 truly wireless earbuds

Weeks later, Mr Musk backed away from the plan, citing investor feedback.

Tesla said Ms Denholm, who is already chair of Tesla's audit committee, will step down from that role when she leaves Telstra.

The spokeswoman also said Tesla was actively looking for two additional independent directors. The mid-priced Tesla Model 3 was the fifth bestselling passenger vehicle in America, according to the industry analyst Edmunds. However, the carmaker made what Mr Musk called an "historic" profit in the most recent quarter.

Denholm will leave her role as CFO and head of strategy at Telstra once her six-month notice period with the company is complete, Tesla said late on Wednesday. She also has worked at various technology companies including Juniper Networks and Sun Microsystems and held finance management posts at Toyota Motor Corp.in Australia.

"I look forward to helping Elon and the Tesla team achieve sustainable profitability and drive long-term shareholder value", she said in the statement.

Tesla Inc said board member Robyn Denholm will replace Elon Musk as its Chair, more than a month after the billionaire had to step down as the electric-car maker's Chair as part of a settlement with USA regulators.

Related News:

  • Trump warns House Democrats against investigating his administration

    Trump warns House Democrats against investigating his administration

    Second, in the wake of their House victory, Democrats are likely to be more confrontational and subject Trump to more scrutiny. Democrats won seats stretching from suburban Washington, New York and Philadelphia to outside Miami, Chicago and Denver.
    Maithripala Sirisena: Sri Lankan Parliament to reconvene on Nov 14

    Maithripala Sirisena: Sri Lankan Parliament to reconvene on Nov 14

    Some members of his party have already alleged they were offered portfolios and huge amounts of money to switch allegiances. Sirisena shut the legislature a day after the sacking, preventing a vote demanded by Wickremesinghe to prove his majority.

    MA officially elects its first black woman to Congress

    The Chicago native settled down in Boston after college and later became the city's first black councilwoman. It includes the neighborhood of Roxbury, the traditional center of Boston's black community.
  • Several Injured In Shooting At Bar In Southern California, Says Police

    Several Injured In Shooting At Bar In Southern California, Says Police

    The Ventura County Fire Department confirmed just after midnight that there had been reports of "multiple injuries" at the bar. The attack has been upgraded to a level 2 mass casualty incident indicating that there are between 10 to 20 injured victims.
    Missouri voters approve gradual minimum wage increase to $12 an hour

    Missouri voters approve gradual minimum wage increase to $12 an hour

    There was no organized opposition to the measure, although lawmakers could still alter state statutes to roll the increase back. Voters in Arkansas approved a measure that will increase the state's minimum wage over a span of three years.
    'Super Smash Bros. Ultimate' to Remove Native American References Following Backlash

    'Super Smash Bros. Ultimate' to Remove Native American References Following Backlash

    Thank you so much, not only on my behalf- but thank you for helping spread this on behalf of the Native community. Game & Watch is holding a torch and bearing his teeth with a feather coming out of the back of his head.
  • Emma Thompson makes Prince William blush as she receives Damehood

    Emma Thompson makes Prince William blush as she receives Damehood

    However, Thompson didn't seem too bothered by the rejection. "He said, "This day isn't about me, it's about you". It was first announced in the Queen's Birthday Honours List in June.
    Earth’s ozone layer finally healing, says UN

    Earth’s ozone layer finally healing, says UN

    Writers of the report said if this amendment is ratified, Earth can avoid up to 0.4 percent of global warming in the 21st century. The 2018 edition shows that ozone levels in sections of the stratosphere have been recovering at rates of 1-3 percent since 2000.
    Democrats capture US House majority in rebuke to Trump

    Democrats capture US House majority in rebuke to Trump

    VoteCast debuted Tuesday and is a survey of more than 120,000 voters and nonvoters conducted by NORC at the University of Chicago. By election day, FiveThirtyEight gave Clinton a 71% chance of winning the election, leaving Trump with a 29% chance of winning.
  • Should there be a tax on red meat?

    Should there be a tax on red meat?

    Increased rates of coronary heart disease, stroke and Type 2 diabetes have also been associated with eating red meat. In addition, an estimated 3,800 deaths related to obesity would be prevented, the study found.
    Could Steelers use franchise tag on Le'Veon Bell again?

    Could Steelers use franchise tag on Le'Veon Bell again?

    He rushed for 1,291 yards with nine touchdowns over 15 games in 2017 with the Steelers, his fifth year in Pittsburgh. If he doesn't report for the team's Week 11 matchup with the Jacksonville Jaguars , he won't play in 2018.
    Virgin Australia

    Virgin Australia "mindful" of reactions to veterans recognition initiative

    However, callers to Andrew Dickens were more mixed about where or not the same treatment should be given here. "American nonsense. Hours later, Virgin Australia seemed to suggest it was reversing its decision.


Most liked

New Gallup Poll Finds High Anxiety Among Democrats on Election Day
AP reports that Democrats have won half of the seats they need to claim House majority; GOP picking up key Senate contests. Trump spent the day at the White House, tweeting, making calls, monitoring the races and meeting with his political team.

Kevin Harvick stripped of berth in NASCAR championship race
It took until Wednesday for the penalties to be announced because the cars were in transit Monday from Texas to North Carolina. Blaney crew chief Jeremy Bullins was fined $50,000, and auto chief Kirk Almquist was suspended for the next two races.

Muslim women make history with wins in Michigan, Minnesota
She was born on July 24, 1976, to working-class Palestinian immigrants in Detroit and is the eldest of 14 children. For Tlaib, Tuesday's election marks the second time she will have made history in recent years.

Managers detained after China firm forced staff to drink urine
The hashtag "employees who failed to meet their goals forced to drink urine" has since been viewed nearly 540,000 times. The video showed a shirtless man surrounded by a group of people and being flogged with a belt by a woman.

Democrat Whitmer wins MI governor's race
Whitmer ran as a pragmatic liberal who was comfortable working across the aisle in order to win support for policy initiatives. They also say it would allow for greater regulation of pot usage and for the police to focus on more pressing problems.

New Zealand beat Pakistan as Boult takes hat-trick
In response Pakistan crumbled to 85-6, before Sarfraz Ahmed (64) and Imad Wasim (50) added 103 for the seventh wicket. Not since Darrel Hair no-balled Murali at the MCG has cricket witnessed a "chucking" controversy quite like this.

FSU Shuts Down Rival Gators in Opener, 81-60
The Gators went 6 of 24 on 3-point attempts. "We just put a lot of pressure on the ball, gave him a lot of problems", Mann said. The Seminoles' opening night was impressive, especially considering they were without their top forward.

Bellew vs Usyk Preview and Prediction
I would shoot to his body as I've seen him hurt a few years ago with this strategy. "He likes to talk a lot, as you already know". The heavyweight star admits Usyk should be the bookmakers' favourite but is refusing to rule out fans' favourite Bellew.

Girl Scouts sue Boy Scouts over name change to attract girls
The Girl Scouts lawsuit charges that this has changed since the Boy Scouts made a decision to start admitting girls. For example, it says materials disseminated by the Boy Scouts feature a quote from the founder of the Girl Scouts .

Two buildings collapse in the French city of Marseille
Images posted on Twitter from Google street view claimed to show the poor state of the two buildings before the collapse. Amateur video broadcast on BFM-TV featured bystanders covering their mouths with their sleeves to avoid the dusty air.

‘Breaking Bad’ movie set to start production
Breaking Bad and Better Call Saul producing alums Mark Johnson and Melissa Bernstein are linked to the project, as well. It was not immediately clear if the film would land on TV or in theaters, according toThe Hollywood Reporter .

WR Bryant to sign with Saints
Bryant's return to the National Football League with the Saints means he could play against his former club in a few weeks. The Saints are rolling the dice a bit that Bryant will be a good locker room fit with a team that is on such a good run.

Canada Post strikes continue in five southern Ontario communities
Monday's strike means there will be no mail delivery in Rockwood, Elora, Fergus, Arthur, Belwood or Guelph. With longer hours and an increase in parcels, the health and safety of employees is at risk, Cheeke said.

Troy Aikman: Cowboys Need a 'Complete Overhaul of the Entire Organization'
Prescott threw for 243 yards and two touchdowns, but threw an interception, lost a fumble and was sacked five times. Jones took a similar stance in 2010 when Dallas started 1-7 under Wade Phillips.

First Native American women in Congress: Deb Haaland & Sharice Davids
Halland will fill the seat that will be vacated by the state's newly elected governor, Democrat Michelle Lujan Grisham. With her win, Davids becomes the first openly gay, Native American woman to serve in the U.S.