Robyn Denholm, the current director of the electric automotive, Tesla Inc has now been promoted to the chairwoman position. Robyn who has also worked for Toyota will now have the task of regulating the regime of the CEO, Elon Musk.
Elon Musk has undergone months of turbulence and this promotion is intended to neutralize the chaos.
Denholm is an Australian accountant and is currently working as the chief in finance in Telstra Corp Ltd’s telecom department. She will replace Musk after the CEO was compelled to relinquish the role as part of a deal.
This is to head off the alleged charges of fraud by the Securities and Exchange Commission of the United States.
The change is also supported by the analysts of the Wall Street who believe that the unpredictable behavior of the CEO is hampering the progress of the company. The change was also agreed by Musk in the court settlement in September.
Delholm will resign from Telstra, where she currently working as a finance chief, to join the full time role in Tesla.
Analysts however have shown concerns that the Australian accountant will not be able to stay unaffected from Musk’s public outburst thereby failing to bring more orders to Tesla.
Delholm was the head of the audit committee along with being an independent director of Tesla, since 2014.
The company paid her $5 million last year, majorly in the stock options thereby making her remunerations the highest, taking into consideration all of its board members.
Musk, the company’s biggest shareholder, recently tweeted about the change expressing his approval.
The company’s settlement with the Securities and Exchange Commission which was also court approved, demands Tesla to appoint an “independent” chairman. The agreement however does not define and specify what it considers to be apt.
Source: Reuters, TheNewYorkTimes
