Friday, 16 November, 2018

Tesla names Robyn Denholm as new chairwoman to replace Elon Musk

Tesla names new chair to replace Elon Musk Robyn Denholm to replace Elon Musk as Tesla chair
Rhonda Young | 08 November, 2018, 13:54

The settlement requires Tesla to install an independent chairman, among other penalties.

Last month Tesla and Musk were both fined $20 million over the tweets in which he claimed he was taking the company private at $420 a share, which the SEC alleges was a number chosen as a joke with his singer girlfriend, Grimes, who introduced him to marijuana.

Ms Denholm is now Chief Financial Officer at Australian biggest telecoms company, Telstra, and already sits on the board of Telsa as an independent director.

The move scotches reports that James Murdoch might have been appointed to the job.

Democrats Wrest House in Rebuke to Trump, Republicans Hold On to Senate
But Congress could not remove him from office without a conviction by a two-thirds majority in the Republican-controlled Senate. President Donald Trump advocated forcefully for a handful of candidates in order to keep the GOP in control of the U.S.

U.S. authorities sued Mr Musk for misleading investors and as a result Tesla and Mr Musk were each required to pay a fine of $20m.

The settlement in late September with the Securities and Exchange Commission allowed Musk to remain CEO of Tesla but required him to relinquish his role as chairman for at least three years. Tesla's shares soared following his comments.

United States authorities sued the entrepreneur for misleading investors and he and Tesla were each fined $20m.

Mr Musk heaped praise on his replacement. The aim is to provide stronger oversight to match Tesla's growing stature and market value. 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. However, the carmaker made what Mr Musk called an "historic" profit in the most recent quarter.

Democrats Already Ready to Demand Trump's Tax Returns
Trump spent election night watching returns with family and friends at the White House, his shadow looming large over the results. The GOP Senate victory was magnified because Democrats stood a solid chance of wresting control of the House from Republicans.

Before moving to Telstra, she worked for Silicon Valley firms Sun Microsystems and Juniper Networks as well as consultants Arthur Anderson and Toyota.

Denholm, one of two female directors on the nine-member board, assumes her new position immediately, Tesla said.

Ms Denholm, who has been on Tesla's board since August 2014, became Telstra CFO in July.

Announcing the appointment, Tesla said in a statement that to "ensure a smooth transition...."

Morning people have a lower risk of breast cancer
They also found some evidence for a causal effect of increased sleep duration and sleep fragmentation on breast cancer . According to Cancer Research UK, around a quarter of cases might be preventable.

Tesla said Denholm will be serving as chair on a full-time basis and that she will temporarily step down as chair of the company's audit committee until she leaves Telstra.

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