Tesla names Denholm to replace Musk

November 08, 2018 10:39 pm | Updated 10:39 pm IST

Tesla Inc. has ended weeks of speculation by promoting one of the electric carmaker’s independent directors, Australian accountant Robyn Denholm, to replace Elon Musk as chairman.

The change in structure at the Silicon Valley firm, agreed to by Mr. Musk in a September court settlement with regulators, is supported by many on Wall Street who worry that his erratic behaviour is undermining the company’s progress.

Analysts and investors have expressed concern that it must be a strong independent figure who can rein in the billionaire's public outbursts and bring more order to Tesla.

Ms. Denholm has been an independent director of Tesla since 2014 and heads its audit committee. She was paid $5 million, mainly in stock options, by the company last year, making her the highest remunerated of its board members.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.