Tesla overlooks James Murdoch for chairman role vacated by Elon Musk

Tesla overlooks James Murdoch for chairman role vacated by Elon Musk

Denholm will leave her role as CFO and head of strategy at Telstra once her six-month notice period with the company is complete, Tesla said late on Wednesday.

Mr Musk and Tesla settled with the United States Securities and Exchange Commission in September after the agency sued for fraud.

Tesla has endured a hard 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, which has never reported an annual profit, also came under strain over production schedules for its Model 3 electric auto, its newest vehicle aimed at a wider market.

The tweets sent shares in Tesla soaring to a high of $387.46 a share on August 7.

Recent court documents show Ms Denholm was paid $US4.9 million ($7 million) as a Tesla director in 2017, compared with total compensation of $2 million at Telstra past year.

Last month Tesla and Musk were both fined $20 million over the tweets in which he claimed he was taking the company private at $420 a share, which the SEC alleges was a number chosen as a joke with his singer girlfriend, Grimes, who introduced him to marijuana.

More news: Mass shooting reported at bar in Thousand Oaks, California
More news: Sri Lanka's Speaker: Compelled to recognize earlier government till Parliament majority proven
More news: Troy Aikman calls for 'complete overhaul' of the Cowboys organization

Tesla announced Denholm's appointment weeks after the Financial Times reported that James Murdoch, who also sits on Tesla's board, was the frontrunner. In the meantime, she'll work closely with Musk.

She also has worked at various technology companies including Juniper Networks and Sun Microsystems and held finance management posts at Toyota Motor Corp.in Australia.

Electric vehicle company Tesla has appointed an executive at Australian company Telstra to chair its board. "Great respect. Very much look forward to working together", Musk tweeted on Thursday.

"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.

Investors had also called for stronger oversight of Mr Musk after his erratic behaviour attracted attention.

Neither Musk nor Tesla admitted or denied the SEC's findings as part of the settlement.

Related Articles

  • US Democrats win House, Republicans keep Senate

    In suburban areas where key House races will be decided, voters skewed significantly toward Democrats by a almost 10-point margin. New York Democratic Governor Andrew Cuomo - sometimes spoken of as a 2020 presidential contender - cruised to a third term.
    Dez Bryant signs with Saints

    Dez Bryant signs with Saints

    Bryant's return to the National Football League with the Saints means he could play against his former club in a few weeks. In his eight-year career, all with the Cowboys, Bryant has amassed 7,459 yards on 531 receptions and 73 touchdowns.
    Bryce Harper Turned Down $300 Million Contract From Nationals

    Bryce Harper Turned Down $300 Million Contract From Nationals

    It looks like, as of now, the serious teams competing for Harper are the Phillies, the Giants, and the Cardinals. Zack Greinke ($US34 million), David Price ($US31 million) and Clayton Kershaw ($US31 million) all got more .
  • The midterms show Trump might not get re-elected in 2020

    The midterms show Trump might not get re-elected in 2020

    Congress: Ilhan Omar, a former refugee who fled Somalia's civil war, and Rashida Tlaib, a Detroit-born Palestinian-American. O'Rourke had told voters that Trump was wrong and described Texas as built from "immigrants, asylum seekers and refugees".
    Charlie Nicholas states his prediction for Red Star Belgrade v Liverpool FC

    Charlie Nicholas states his prediction for Red Star Belgrade v Liverpool FC

    All-in-all, this is another must-win tie for Liverpool to widen the gap between themselves and fellow top-2 contenders. Despite Liverpool's improving form Firmino has struggled for goals, scoring just once in his last 10 matches.
    Jack White slams security for stopping lesbian kiss at gig

    Jack White slams security for stopping lesbian kiss at gig

    He rounded off the post by urging fans, "Let's promote love and acceptance wherever and whenever we can". See the photo and White's full statement below.
  • Various Business Twitter Accounts Hacked By ‘Elon Musk’

    Various Business Twitter Accounts Hacked By ‘Elon Musk’

    Pathé Films, which was hacked , was able to get the control back after some time and deleted the tweet . It is, however, something rather amusing in the fact that they did decide to use Elon Musk for this.
    Ukraine's Oleksandr Usyk arrives in United Kingdom  to fight Tony Bellew

    Ukraine's Oleksandr Usyk arrives in United Kingdom to fight Tony Bellew

    Now Bellew will cut down to his natural weight class, and should hope to bring that power below the 200lb limit with him. The heavyweight star admits Usyk should be the bookmakers' favourite but is refusing to rule out fans' favourite Bellew.
    Why Le’Veon Bell Considering Holding Out For Entire Season

    Why Le’Veon Bell Considering Holding Out For Entire Season

    Bell has failed to sign his $14.5 million franchise tender while preserving his long-term health for a future lucrative contract. The Athletic reported a month ago that Bell would qualify as a third franchise tag even if he didn't show by the deadline.
  • Prince Charles, Duchess Of Cornwall In Nigeria for a 3-Day Visit

    Prince Charles, Duchess Of Cornwall In Nigeria for a 3-Day Visit

    Mystery surrounds the departure of Camilla, Duchess of Cornwall , from her latest royal tour with Prince Charles . PAY ATTENTION: Get the Latest Nigerian News Anywhere 24/7.
    VW's junior Amarok bakkie is called the Tarok. And it's very capable

    VW's junior Amarok bakkie is called the Tarok. And it's very capable

    The TSI engine in the Tarok Concept is also combined with a 6-speed automatic gearbox and permanent 4MOTION all-wheel drive. " The Tarok's DNA adds an exhilarating dynamic to the segment ", declared Klaus Bischoff, head designer at Volkswagen .
    LiAngelo, LaMelo Ball announce new plans for basketball futures

    LiAngelo, LaMelo Ball announce new plans for basketball futures

    If not, LaMelo will surely get some run on November 13 against La Lumiere in Indiana. "I can't wait to play with my peers". It will allow him to play those in his own age group while he works toward the 2020 National Basketball Association draft.