Tesla Names New Chair to Replace Elon Musk

Nov. 8, 2018
Tesla has appointed Robyn Denholm as chair of its board, replacing the electric carmaker's billionaire founder, Elon Musk.

Nov. 8, 2018—Tesla has appointed Robyn Denholm as chair of its board, replacing the electric carmaker’s billionaire founder Elon Musk, reported The Guardian.

Denholm, one of two female directors on the nine-member board, assumes her new position immediately, Tesla said in the report. The promotion will become full-time once she leaves her role as chief financial officer and head of strategy at Telstra, Australia’s largest telecom company, after her six-month notice period.

The 55-year-old Australian will temporarily step down as chair of Tesla’s audit committee until she quits Telstra.

Musk remains chief executive and is Tesla's biggest investor, according to the report. Musk agreed to step down as chair for three years and pay a fine in a deal with U.S. Securities and Exchange Commission over tweets he made about taking the firm into private ownership.

Despite the scandals, Tesla made a profit of $312 million in the third quarter, well ahead of Wall Street forecasts, with revenues of $6.8 billion.

Sponsored Recommendations

Best Body Shop and the 360-Degree-Concept

Spanesi ‘360-Degree-Concept’ Enables Kansas Body Shop to Complete High-Quality Repairs

ADAS Applications: What They Are & What They Do

Learn how ADAS utilizes sensors such as radar, sonar, lidar and cameras to perceive the world around the vehicle, and either provide critical information to the driver or take...

Banking on Bigger Profits with a Heavy-Duty Truck Paint Booth

The addition of a heavy-duty paint booth for oversized trucks & vehicles can open the door to new or expanded service opportunities.

Boosting Your Shop's Bottom Line with an Extended Height Paint Booths

Discover how the investment in an extended-height paint booth is a game-changer for most collision shops with this Free Guide.