Tesla names new chair to replace Elon Musk

Tesla names new chair to replace Elon Musk

Electric auto manufacturer Tesla said Robyn Denholm, now chief financial officer (CFO) at Australian telecom operator Telstra Corp Ltd, will replace Elon Musk as its chair. "Robyn will continue to provide the necessary focus and time to Telstra during the remainder of her time there, and she will also temporarily step down as Chair of Tesla's Audit Committee until she leaves Telstra".

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"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", Denholm said in a statement.

Denholm, the chief financial officer of Australian telecommunications firm Telstra, has served on Tesla's board since 2014 but has fewer ties to Musk than most of the company's directors, according to Dow Jones Newswires.

The announcement comes after Musk was ousted as board chair in September as part of a settlement with the SEC, which filed a lawsuit against him following an August tweet in which he said he was considering taking the company private, surprising investors, analysts and the board.

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In the future, the US-based company also needs to settle a country-wide charger network for Tesla owners in India. In 2015, Musk hosted Prime Minister Narendra Modi during his visit to the Tesla factory in Fremont, California.

"So that she will be able to devote her full attention to the Tesla chair role, Robyn will be leaving her role as CFO and head of strategy at Telstra. once her six-month notice period with Telstra is complete", the carmaker said.

The spokeswoman also said Tesla was actively looking for two additional independent directors.

Tesla has appointed Robyn Denholm as chairman, replacing Elon Musk after his controversial behavior forced him to step aside.

Under that settlement he and Tesla each had to pay a $20 million fine but Musk was allowed to stay on as CEO.

Denholm has held leadership roles in both Australia and Silicon Valley, including Juniper Networks and Sun Microsystems. "Great respect. Very much look forward to working together", Musk tweeted early on Thursday. Musk later tweeted that this was "incorrect".

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