Tuesday , May 30 2023

Tesla nominates a new chair for replacing Elon Muska


Robins Denholm, Australian Telecoms Chief Financial Officer, Chairman of the Electric Vehicle Board, an expert under the supervision of Elon Musk, on behalf of Tesla.

Denholm, who joins the Tesla board in 2014, will immediately become a leader and has left Clof Manager and Strategy Leader Telstra for six months to complete his full-time role. She also temporarily withdrew from the chairman of the Tesla Audit Committee until she left Telstra, "said a car manufacturer.

The decision, which was announced on Wednesday night, is after Musk has passed a securities fraud check with the US Securities and Exchange Commission in September for his tweets about Tesla's private use. The bill cleared Musku from being able to serve as chairman for three years and ordered Tesla to appoint two new independent directors, set up a new independent committee of directors, add muscle control measures and pay penalties.

Inside tweet Referring to Tesla's statement, Musk said that he "would like to thank Robin for joining the team. Great respect. We hope very much to work together."

Denhol's summary includes seven years of financial management in the Toyota car in Australia, and for two decades as Sun Microsystems' strategic, financial and operational executive director, and Juniper Networks.

Her appointment would be a surprise to Tesla's observers or investors who had expected the company to appoint one of the two new independent directors as a leader, thus creating a person who had operations in the manufacturing process and who had not remained on the board in recent years when the musk's wrong statement of Twitter and Tesla's production issues caused a headache to investors.

Tesla's sons were criticized as being too cozy with musk. Tesla states that only two of its directors, Musk and his brother Kimbal, do not meet the independence standards defined by Nasdaq, and that the board "carried out an analysis of all non-staff employees and considered that all the other relevant facts and circumstances." However, the influential advisor to the trustee Institutional shareholders' services this year said in a report that they consider that only five of Tesla's nine directors are independent because of the professional links between the two directors and Musku. Denholms was one of the directors he said was independent.

Last week, a group of investors, which included officials involved in state pension funds in four countries, called for additional capitalization in the company's capital than was required for SEK settlement purposes. They asked Tesla to discover Tesla's "refreshment plan", the ongoing work of the executive director and chairman of the board, and other regulations.

New York City Controller Scott M. Stingers, who is the guardian of the city's pension fund and who also signed the letter, announced last week that "a truly independent and refreshed board with various directors would be able to ensure a strong company's clear oversight. restoring investor confidence and restoring corporate relationships with long-term shareholders. "(Tesla declined to comment last week on the letter.)

Denholms is one of the independent directors we called for last week, "said Dieter Waizenegger, one of the signatories and CEO of CtW Investment Group, an activist group. "We are glad that the board chose to lead him to the next phase, but [the] the big questions are: who leaves the ship and who will join? This is just the first step. "

Since settling, Musk has shown that SEK posts in Twitter. October 4 he wrote "I just want to say that the Shorteller Enrichment Commission has done an incredible job, and the name change is so far!"

Musk then told Twitter last Monday that he is now "Nothing from Tesla". in writing that he was deleted last week by his names "to see what will happen." Then he followed him with another Twitter saying: "The corporation's employees required by law are the president, the treasurer and the secretary. Imagine that I have to keep the first one, or it can confuse the authorities."

On November 2, the company described Musk as its CEO in a quarterly submission.

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Tesla discovers SEC summons because Musk is calling for deepening FBI probe "absurd"

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