Telstra CFO to replace Elon Musk as Tesla chair

NBN Breaking News

NBN Breaking News

Posted November 08, 2018 19:42:49

Australian Robyn Denholm, the chief financial officer at Telstra, will replace Elon Musk as chair of Tesla, the company has announced.

Ms 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 in a statement.

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

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

Ms Denholm has served on the Tesla Board as an independent director since 2014 and has also worked in Silicon Valley and for companies including Toyota.

Tesla has weathered a rocky few months in the wake of Mr Musk’s tweets that he had “funding secured” for a deal, later scuttled, to take Tesla private.

Mr Musk and Tesla settled with the United States Securities and Exchange Commission in September after the agency sued for fraud.

The settlement required Tesla and Mr Musk to pay a fine of $20 million each and for Mr Musk to give up his chairman role for three years. He remains CEO.


Topics: business-economics-and-finance, company-news, australia, united-states