Business
16:53, 08-Nov-2018
Tesla picks new board chair to replace Elon Musk
Updated
16:36, 11-Nov-2018
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Electric carmaker Tesla said Robyn Denholm, currently CFO at Australian telecoms operator Telstra Corp., will replace Elon Musk as its chair.
Denholm will leave her role as CFO and head of strategy of Telstra once her six-month notice period with the company is complete, Tesla said late on Wednesday.
Tesla said Denholm will be serving as Tesla chair on a full-time basis.
She will temporarily step down as chair of Tesla's Audit Committee until she leaves Telstra, the company said.
Elon Musk /VCG Photo
Elon Musk /VCG Photo
Tesla weathered a rocky few months in the wake of Musk's tweets that he had "funding secured" for a deal, later scuttled, to take Tesla private. Musk and Tesla settled with the US SEC in September after the agency sued for fraud.
The settlement required Tesla and Musk to pay a fine of 20 million US dollars each and for Musk to give up his chairman role for three years.
Source(s): Reuters