Robyn Denholm To Succeed Elon Musk As Tesla Chairperson

Tesla names new chair to replace Elon Musk

Tesla names new chair to replace Elon Musk

The appointment of Denholm caps months of turbulence for the company and its stock and investors called for stronger oversight of Musk, whose recent erratic public behavior raised concerns about his ability to steer the company through a rocky phase of growth.

Robyn Denholm, the finance chief of Australian telecoms firm Telstra, takes over from the electric auto maker's founder, who remains chief executive.

She will temporarily step down as Chair of Tesla's Audit Committee until she leaves Telstra, the company said.

"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.

"I look forward to working even more closely with Robyn as we continue accelerating the advent of sustainable energy", he added.

"To ensure a smooth transition during the remainder of Robyn's time at Telstra, Elon will be a resource to Robyn and provide any support that she requests in her role as Chair", Tesla said in a news release. He remains chief executive.

"The market reacted to this information and Tesla's stock price quickly traded up", said Stephanie Avakian, the SEC's Co-Director of the Division of Enforcement, in a September news conference.

He and the company were fined by the US Securities and Exchange Commission (SEC) after tweets sent by Musk about plans to take Tesla private were deemed to be fraudulent.

The tweets sent shares in Tesla soaring to a high of $387.46 a share on August 7.

Robyn Denholm takes over the role from founder Elon Musk, who will remain as Tesla's chief executive. Musk later tweeted that this was "incorrect". In media interviews he said he often slept on a sofa in the Tesla office and more recently in an online video he briefly smoked marijuana.

Reaction to the announcement was mixed on Twitter.

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