This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.bbc.co.uk/news/business-46135276

The article has changed 4 times. There is an RSS feed of changes available.

Version 2 Version 3
Tesla names new chair to replace Elon Musk Tesla names Robyn Denholm as chair to replace Elon Musk
(35 minutes later)
Electric car company Tesla has appointed an executive at Australian company Telstra to chair its board. Tesla has named an Australian executive as its new chairman after Elon Musk was forced to give up the role.
Robyn Denholm takes over the role from founder Elon Musk, who will remain as Tesla's chief executive. Robyn Denholm, the finance chief of Australian telecoms firm Telstra, takes over from the electric car maker's founder, who remains chief executive.
Mr Musk agreed to give up the chairmanship last month to resolve claims of fraud brought by US financial regulators. Mr Musk agreed to step down as chair last month to resolve claims of fraud brought by US financial regulators.
The settlement requires Tesla to install an independent chairman, among other penalties.The settlement requires Tesla to install an independent chairman, among other penalties.
The move scotches reports that James Murdoch might have been appointed to the job. The announcement scotches reports that James Murdoch was the frontrunner for the job.
Stronger oversight Tesla has endured a difficult few months, following comments Mr Musk made on social media in early August suggesting he had "funding secured" for a deal to take Tesla private.
Tesla has endured a difficult few months, following comments on social media in early August made by the firm's founder, Elon Musk, suggesting he had "funding secured" for a deal to take Tesla private. Tesla's shares soared following his comments. Its shares soared following his comments but weeks later Mr Musk backed away from the plan, blaming feedback from shareholders.
Weeks later, Mr Musk backed away from the plan, citing investor feedback. US authorities sued the entrepreneur for misleading investors and he and Tesla were each fined $20m. Mr Musk was also obliged to relinquish his role as chairman for three years.
US authorities sued Mr Musk for misleading investors and as a result Tesla and Mr Musk were each required to pay a fine of $20m. Mr Musk was also obliged to relinquish his role as chairman for three years. Investors had also called for stronger oversight of Mr Musk after his erratic behaviour attracted attention. In media interviews he said he often slept on a sofa in the Tesla office and more recently in an online video he briefly smoked marijuana.
Investors had also called for stronger oversight of Mr Musk after his erratic behaviour attracted attention. In media interviews he said he often slept on a sofa in the Tesla office and more recently in an online video he briefly smoked marjuana.
Tesla, which has never reported an annual profit, also came under strain over production schedules for its Model 3 electric car, its newest car aimed at a wider market. However, the carmaker made what Mr Musk called an "historic" profit in the most recent quarter.Tesla, which has never reported an annual profit, also came under strain over production schedules for its Model 3 electric car, its newest car aimed at a wider market. However, the carmaker made what Mr Musk called an "historic" profit in the most recent quarter.
'Extensive experience' Ms Denholm, who has been on Tesla's board since August 2014, became Telstra CFO in July.
Robyn Denholm has served as a director on Tesla's board since August 2014. She has been with Australian telecoms firm Telstra since 2017 and was appointed Telstra's chief financial officer in July this year. She will take on the full-time role at Tesla after serving a six-month notice period at the Australian firm.
Ms Denholm will take over as chairwoman at Tesla with immediate effect and will take on the role on a full-time basis. However, she will step down temporarily from her role as chairwoman of Tesla's Audit Committee until she has worked her six-month notice period at Telstra, the company said. "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," Ms Denholm said.
"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," Ms Denholm said, following the appointment. Before moving to Telstra, she worked for Silicon Valley firms Sun Microsystems and Juniper Networks as well as consultants Arthur Anderson and Toyota.
Before moving to Telstra, Ms Denholm, worked for Silicon Valley computing firm Sun Microsystems, Japanese car firm Toyota, consultants Arthur Anderson and, most recently, networking equipment firm Juniper Networks. "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," said Mr Musk.
"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," said Mr Musk.