Tesla’s board of directors has appointed Robyn Denholm as Chair of the company’s board, effective immediately, replacing the company’s founder Elon Musk.
Denholm is one of the two female directors on Tesla’s nine-member board since 2014. She will leave her current position as CFO and head of strategy at Australian telecommunications company Telstra and work full-time as Tesla’s chairwoman, once her six-month notice period with Telstra is complete.
Elon Musk will remain as CEO of the Palto Alto-based EV maker and be a resource to Denholm during the remainder of her time at Telstra in order to ensure a smooth transition.
“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,” Elon Musk said. “I look forward to working even more closely with Robyn as we continue accelerating the advent of sustainable energy.”
Robyn Denholm has experience in both Australia and Silicon Valley across a range of big companies, including Telstra, Juniper Networks, Sun Microsystems, as well as Toyota, where she worked in numerous finance management roles.
“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,” Robyn Denholm said.
Elon Musk agreed to step down as Tesla’s chairman for three years and pay a $20 million fine in a deal with the SEC over the infamous tweets he made about taking the company private. The US Securities and Exchange Commission also imposed a $20 million fine to Tesla, accusing Musk of fraud.