Thursday , June 17 2021

Robin Denholm succeeded Elon Musk as the leader of the Tesla committee



Under regulatory pressure, Tesla called a new leader for his board, as he is trying to reduce his concern for his stability under Elon Musk, his colorful, but unconditional co-founder.

The electric car company announced on Wednesday that Robin Denholm, a board member of 2014 and a longtime executive director of technology and telecommunications, will immediately become its chairman. Mr. Musk will remain Chief Executive Officer of Tesla. Ms. Denholm is currently the Chief Financial Officer of Telstra, which dominates telecommunications in Australia.

The move, which replaced Mr. Muska, was part of an agreement with the Securities and Exchange Commission in September in September to deal with a fall from his Twitter account, which provided financing for the private purchase of the company. This statement quickly led to suspicion. (Mr. Musk later explained in the blog that discussions with the sovereign wealth of Saudi Arabia have led him to believe that he has both money and enthusiasm for such an arrangement.)

As part of this solution, Tesla agreed to assign two independent directors to his board and appoint a new president, separating those responsibilities from Mr. Musk as CEO until the following Tuesday. The company was also obliged to establish a permanent commission to monitor public statements by Mr. Musk, including his Twitter posts.

Erik Gordon, a professor at the Ross School of Business in Michigan, said the appointment of Mrs. Denholm "is technically fit" with S.E.C. but asked how much Mrs. Denholm could return to a strong personality like Mr. Musk.

"If the goal is to ensure adult supervision, it will not work," Gordon said. "She was on the board through all the Chananigans, she never resigned in protest, she is a camouflage, and if she fails, she will be the one who leaves." "There will be no musk who leaves."

David Vhiston, an analyst with Morningstar who follows Tesla, said the appointment is "a good balance" and is probably best for Tesla's share price. Bringing in a stubborn outsider "who will not work with Elon's Twitters", he added, "I would have collided with Ellon and it would not work at all."

Tesla's shares traded about 1% in the afternoon on Thursday.

However, Mr. Wiston also expressed doubts as to how much Mrs. Denholm could endanger Mr. Muska. In the last few weeks, the CEO was addressed by S.E.C. on Twitter as "The Enlargement Commission deletedAnd then he announced that he no longer had a title in Tesla, asking questions about whether he would continue to have the last word, even with the new board leader.

"It's troubling for me, because since settling, Elon has already made a derogation from S.E.C. twice," Mr. Visston. He said Mr. Musk "will stop playing games and just make the damn cars."

The new chairman of Tesla has a wide experience in technology. Before her current position at Telstra, Denholm was the executive director of Juniper Netvorks, which makes computer networking around the decade.

He also has experience in the auto industry. She spent seven years in Toiota Motor Corporation Australia, where she was the state finance manager, before leaving Sun Microsystems in 1996, which was later taken over by Oracle.

Tesla said that Ms. Denholm would quit her role in Telstra after her six-month period ended.

Mr. Wiston said Mrs. Denholm's plan to leave Telstra "shows Tesla's commitment to ensure that this oversight is working properly." But Professor Gordon warned that after leaving Telstra, Tesla would be "to be her permanent worker," making her less likely to confront Mr. Musk. "It will be a job that does not want to lose," he said.

Mr. Musk predetermined the changes in a typical way – on Twitter.

In a Tesla announcement, Mr. Musk and his company quoted Ms. Denholm's experience in the year. "Robin has a wealth of industry and technology experience and has significantly contributed to the Tesla Board member for the past four years to help us become a profitable company. I'm looking forward to working with Robin as we continue to accelerate the arrival of sustainable energy."

Mr. Musk galvanized investors and public imagination with his elegant electric cars and his great power for travel and other ambitions. But his public declaration was increasingly endangering shareholders of Tesla and the directors of the directors who represented them. Production problems in Tesla are just added to these issues.

Except for his disturbing tweet of redemption, Mr. Musk showed other signs of stress. He had a nasty battle in the social media with a British diver involved in the bold rescue of 12 boys in a flooded cave in Thailand this summer – a spit that he had to Quickly return.

In August, Mr. Musk told The New York Times that this year "was the hardest and painful year of my career," partly because of pressure from Tesla's leadership, and that she sometimes took Ambien's selfish drug to sleep. Some board members are concerned that the drug contributed to his late nights on Twitter.

In September, he seemed to smoke marijuana briefly during an interview with Joe Rogan, a comedian. (The interview was held in California, where the use of recreational marijuana is legal.)

The S.E.C. The remedy was intended to set some of these concerns for rest. Last month, Tesla announced positive financial results, stating that it is starting to solve some of its problems.


Source link