CORRECTED-UPDATE 3-Tesla appoints Robyn Denholm as chair to replace Elon Musk [Reuters]
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Source: Reuters
Tesla appoints Robyn Denholm as chair to replace Elon Musk | Reuters 3 Min Read (Reuters) - Tesla Inc ( TSLA.O ) said board member Robyn Denholm will replace Elon Musk as its chair, more than a month after the billionaire had to step down as the electric-car maker’s chairman as part of a settlement with U.S. regulators. Tesla had until Nov. 13 to name an independent board chairman under its agreement with the Securities and Exchange Commission, which said Musk’s tweets about taking the company private were fraudulent and that the billionaire should quit as chairman but could retain his role as CEO. Musk, who has been on Tesla’s board since 2004, tweeted in August he was considering taking the company private for $420 per share and had secured funding for a deal that was later scuttled but attracted scrutiny from several government agencies. The appointment of Denholm caps months of turbulence for the company and its stock as investors called for stronger oversight of Musk, whose err
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