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.
A stark disagreement over regulating AI in Republicans’ tax cut and spending bill is the latest tension among conservatives about whether to let states continue to put guardrails on emerging technologies or minimize such interference.
Mark Hamrick of Bankrate discusses the jobs market, AI's growing impact on employment, and how markets are reacting to today’s surprising payroll data.
Amanda Chu of POLITICO reveals how lawmakers are betting millions on pharma stocks even as Trump threatens tariffs and demands steep drug price cuts. Watch!
Hayley Berg, Hopper’s lead economist, previews soaring summer 2025 travel: record international flights, cheaper fares for Europe & Asia, plus booking hacks.
NerdWallet Senior Economist Liz Renter shares what she's tracking in economic data, with a focus on U.S. household debt and rising credit card balances. Watch!
At some 940-pages, the legislation is a sprawling collection of tax breaks, spending cuts and other Republican priorities, including new money for national defense and deportations.
