Tesla Names Robyn Denholm As New Board Chair, Succeeding Elon Musk

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(RTTNews.com) - Tesla Inc. (TSLA) said Thursday that its board of directors has appointed Robyn Denholm as Chair of the Tesla Board, effective immediately. She will succeed Tesla founder Elon Musk in her new role. Denholm has served on the Tesla Board as an independent director since 2014.

In order to be able to devote her full attention to the Tesla Chair role, Denholm will leave her role as Chief Financial Officer and Head of Strategy at Australian telecommunications company Telstra Corp. Ltd. (TLSYY.PK, TLS.AX, TLS), once her six-month notice period with Telstra is complete.

Denholm will serve as Tesla Chair on a full-time basis. To ensure a smooth transition during the remainder of Denholm's time at Telstra, Musk will provide any support that she requests in her role as Chair, Tesla said.

Denholm 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.

"Robyn has extensive experience in both the tech and auto industries, and she has made significant contributions as a Tesla Board member over the past four years in helping us become a profitable company. I look forward to working even more closely with Robyn as we continue accelerating the advent of sustainable energy," Musk said.

In September, Musk had reached a settlement with the U.S. Securities and Exchange Commission related to his "taking private" claim regarding the company. As part of the settlement, the billionaire entrepreneur was required to step down as the luxury electric car maker's chairman and also pay $40 million in penalties.

Read the original article on RTTNews (http://www.rttnews.com/2953279/tesla-names-robyn-denholm-as-new-board-chair-succeeding-elon-musk.aspx)

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This article appears in: World Markets , Stocks
Referenced Symbols: TLSYY ,

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