Australian Robyn Denholm, one of Tesla’s independent directors , was promoted to the position of president in place of Elon Musk , the company’s founder. Musk is moving away from the position finally after accepting the lawsuit last September in response to the US Securities and Exchange Commission’s demand after the billionaire has published tweets that have influenced the value of the company’s stock.
Denholm must step down as CFO of the Australian company Telstra to devote herself to Tesla immediately
The move is fairly well as per Wall Street forecasts- experts believe that Musk’s “chaotic” behavior could contribute to Tesla’s downgrade in the market. To rectify this problem, only an independent character – like the now former director Denholm – would be able to appease the mood and bring a greater order to the company.
“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 generate long-term shareholder value,” Denholm said in a statement. Elon Musk had until next week to step down, but the billionaire was allowed to hold a position on Tesla’s board.
Denholm must leave her post as CFO of the Australian company Telstra to devote herself to Tesla immediately. She will serve as president full time and will also temporarily leave the chair of the Tesla audit committee until she leaves Telstra.
Despite changes to Tesla’s board of trustees, the company posted a record profit of $312m in the third quarter last month, well above consensus expectations with revenues of $6.8bn . One of the main reasons was an increase in sales of Model 3, manufactured by the company, and an unexpected increase in sales of carbon credits.
Source:tecmundo.com.br
