Musk steps down as chair of Tesla and new chair takes over effective immediately

[Master Disaster]

Tesla have just announced their new chairperson, Robyn Denholm, who assumes the position effective immediately, albeit under slightly complicated circumstances.

Quote

Tesla has appointed Robyn Denholm as chair of its board, replacing the electric carmaker’s billionaire founder Elon Musk.

 

Denholm, one of two female directors on the nine-member board, assumes her new position immediately, Tesla said. It will become full-time once she leaves her role as chief financial officer and head of strategy at Telstra, Australia’s largest telecom company, after her six-month notice period.

 

The 55-year-old Australian will temporarily step down as chair of Tesla’s audit committee until she quits Telstra.

This is all part of the deal he reached he reached with the US SEC over tweets he made regarding Teslas future.

Quote

In late September, Musk, who remains chief executive and is also Tesla’s biggest investor, agreed to step down as chair for three years and pay a fine in a deal with the US Securities and Exchange Commission over tweets he made about taking the firm into private ownership. The financial regulator accused Musk of fraud and misleading investors, and fined him and the company $20m each.

Here's what Musk & Denholm have to say on the subject.

Quote

Denholm has been on the Tesla board as an independent director since 2014 and has had senior roles at other Silicon Valley tech companies including Juniper Networks, where she was chief financial officer, and Sun Microsystems, as well as Japanese carmaker Toyota.

 

Musk said: “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. I look forward to working even more closely with Robyn as we continue accelerating the advent of sustainable energy.”

 

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.”

https://amp.theguardian.com/technology/2018/nov/08/tesla-names-new-chair-robyn-denholm-to-replace-elon-musk

 

I have to admit, I'm a little confused by this story, the article seems to contradict itself. Is she taking over immediately of after her 6 month notice period? Is Musk playing even more games here? Am I missing something?

[Bcat00]

This is just dumb.

musk will still make the big decisions, the only difference now is that Tesla can avoid having the government going up third asses over the mans retorts

[shmoochie]

ol musky boi

[GoldenLag]

1 minute ago, Master Disaster said:

Musk playing even more games here?

He needs to have room on his sqedual to play Nekopara. He is a catgirl afterall

 

[Delicieuxz]

Small correction: Musk is stepping down as chairman, but he's remaining as its CEO.

[kladzen]

FAKE NEWS!!!!!

 

Dude....  if you have no clue what you are talking about.. Elon is STILL CEO... however he is no longer the chairman of the tesla board... this is btw old news.... 

 

[Blademaster91]

4 minutes ago, Bcat00 said:

This is just dumb.

musk will still make the big decisions, the only difference now is that Tesla can avoid having the government going up third asses over the mans retorts

Yeah this is really dumb, forced to step down over a tweet.

[Delicieuxz]

1 minute ago, Blademaster91 said:

Yeah this is really dumb, forced to step down over a tweet.

Well, a tweet that misled investors putting large amounts of private money at risk and which violated US securities law that's there to protect investors.

 

Musk is still in control of Tesla, and maybe the time away from extra responsibilities will actually be good for him and the company.

[Supportsneedlove]

11 minutes ago, Blademaster91 said:

Yeah this is really dumb, forced to step down over a tweet.

Honestly, it'd be kinda sweet. I'm scared that guy's gonna take over the world and just drive around in an electric sportscar doing drivebys with a boring company flamethrower. All Madmax but sleek style.

[williamcll]

18 minutes ago, GoldenLag said:

He needs to have room on his sqedual to play Nekopara. He is a catgirl afterall

 

The worse thing about that image is that it is a wolf.

[GoldenLag]

Just now, williamcll said:

The worse thing about that image is that it is a wolf.

For some reason i knew someone in here would mention that

[Master Disaster]

21 minutes ago, kladzen said:

FAKE NEWS!!!!!

 

Dude....  if you have no clue what you are talking about.. Elon is STILL CEO... however he is no longer the chairman of the tesla board... this is btw old news.... 

 

Fixed, it was actually one of those cases where i read the phrase CEO and for some reason my brain just replaced chairperson with CEO.

 

As for old news, it's 3 hours old so yeah, really old news. /S

[Master Disaster]

23 minutes ago, Delicieuxz said:

Small correction: Musk is stepping down as chairman, but he's remaining as its CEO.

Yeah I fixed it now, massive brain fart by me.

[Sauron]

33 minutes ago, Master Disaster said:

Is she taking over immediately of after her 6 month notice period? Is Musk playing even more games here? Am I missing something?

She IS chairwoman of Tesla right now, but she will also cover her previous position for the next 6 months, meaning her "full time" is not yet dedicated to Tesla. At least, that's what I think they mean.

 

She seems very qualified for the position, maybe she can put a brake on the PR shenanigans and place the company's focus back on developing something useful. Tesla has fallen behind on their self driving tech.

[Master Disaster]

15 minutes ago, williamcll said:

For reference:
Snip

Seriously dude, an N Bomb?

[yian88]

14 hours ago, williamcll said:

For reference:

SO from that ranking less clothes = more furry? so if i undress completely ima be that fox girl i always wanted to?

[ARikozuM]

1 minute ago, yian88 said:

SO from that ranking less clothes = more furry? so if i undress completely ima be that fox girl i always wanted to?

Just be sure that you keep the bow.

[Taf the Ghost]

I'm kind of dreading the next time Elon is in Japan. He's going full in on the Akihabara experience, isn't he?

 

As for the news, it's probably been the best idea of Elon stepped back from Tesla. He's really as much of a front-man for Solar City & Tesla, whereas he's highly involved in SpaceX, even if he has a professional to run the place.

[Amazonsucks]

7 hours ago, Taf the Ghost said:

I'm kind of dreading the next time Elon is in Japan. He's going full in on the Akihabara experience, isn't he?

 

As for the news, it's probably been the best idea of Elon stepped back from Tesla. He's really as much of a front-man for Solar City & Tesla, whereas he's highly involved in SpaceX, even if he has a professional to run the place.

But hes the only Silicon Valley CEO i dont hate.

[kladzen]

On 11/8/2018 at 2:25 PM, Master Disaster said:

Fixed, it was actually one of those cases where i read the phrase CEO and for some reason my brain just replaced chairperson with CEO.

 

As for old news, it's 3 hours old so yeah, really old news. /S

this have been weeks old news... it was related to his "420 stock price" tweet.. that then later forced him to stop as chairman due to "believed stock manipulation"... this however is just the news of WHO will be the one.. it was already known that he is no longer chairman..

 

so yes it's quite old news... i even think it was mentioned on wanshow 1-2 weeks ago

[Master Disaster]

46 minutes ago, kladzen said:

this have been weeks old news... it was related to his "420 stock price" tweet.. that then later forced him to stop as chairman due to "believed stock manipulation"... this however is just the news of WHO will be the one.. it was already known that he is no longer chairman..

 

so yes it's quite old news... i even think it was mentioned on wanshow 1-2 weeks ago

Have you even read the story? This isn't about the fact Musk is stepping down, it's reporting on the fact he has chosen his replacement and has now stepped down. The news from a few weeks ago (which btw I also posted) said he was given till the end of November to pick a replacement and step down. He has now done that.

 

It's not weeks old news, it was announced around 4 hours before i posted this topic and why are you telling me something that I literally put in the OP?