Tesla Names Robyn Denholm to Replace Elon Musk as Chair
*By Carlo Versano*
Elon Musk will have someone to answer to at Tesla.
The electric carmaker announced late Wednesday that Robyn Denholm would take Musk's place as chair of the board. Denholm, a Tesla ($TSLA) board member, will leave her job as chief financial officer of Telstra, an Australian telco giant and inherit Musk's chairman duties full-time in six months when her notice period is complete, the company said in a [statement](https://www.tesla.com/blog/announcing-robyn-denholm). She will temporarily resign as chair of Tesla's audit committee while she completes her time at Telstra.
Musk had agreed to step down as chairman as part of a deal he struck with the SEC to settle charges that he manipulated the stock price when he sent that infamous "funding secured" tweet in August. He also agreed to a pay a $20 million fine as part of that settlement.
Denholm is no stranger to the machinations of Silicon Valley. She held top positions at Juniper Networks ($JNPR) and Sun Microsystems, as well as Toyota ($TM). Her deep background in corporate finance should help soothe the worries of Tesla investors that the company's balance sheet is in need of stabilizing.
"I believe in this company, I believe in its mission and I look forward to helping Elon and the Tesla team achieve sustainable profitability and drive long-term shareholder value," Denholm said in the statement.
Tesla shares had been on a roller-coaster ride this year but were on the rise since the company reported a record quarterly profit and beat expectations on vehicle deliveries.
Tony Drake, founder of Drake & Associates, breaks down the latest CPI report, why ‘inflation is still trending down,’ and why the Fed doesn’t want to cut rates too soon.
Make sure your love don't cost a thing this Valentine's Day to any scammers. Note: we're not talking about your partner that didn't do the dishes after saying they would.
Landing founder and CEO Bill Smith shares how the company’s new Nomad pass and partnership with Frontier Airlines allows subscribers unlimited airfare and accommodations.
The pandemic yielded government financial support and (eventually) a surprisingly strong job market — but racial wealth disparities grew. Why is it so difficult to close the wealth gap?
Plenty of retailers and suppliers are reducing the variety of their offerings to focus instead on what they think will sell best. Many businesses have decided less is better, justifying their limited selection by asserting shoppers don’t want so much choice.
Joe Pompliano, author of the Huddle Up newsletter, breaks down the biggest moments from Super Bowl LVIII, from potentially record-breaking viewership to Taylor Swift’s highly anticipated appearance.
David Wright, President and owner of Wright Financial Group, shares his thoughts on why the Federal Reserve seems hesitant to cut rates, and why regional bank stocks could help move the needle.
Disney and Fortnite-maker Epic Games will collab on making new video games with Disney characters. Hopefully it will be more than Mickey Mouse hitting the Griddy.
