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Under the pressure of regulation, Tesla has appointed a new leader to his board as he tries to dispel fears of his stability under Elon Musk, his colorful but erratic co-founder.
The electric car company said on Wednesday night that Robyn Denholm, a board member since 2014 and a longtime veteran of technology and telecommunications, would immediately become president. Mr. Musk will remain Tesla's chief executive officer. Ms. Denholm is currently the Chief Financial Officer of Telstra, Australia's leading telecommunications company.
The proposal to replace Mr. Musk as president was part of an agreement reached in September with the Securities and Exchange Commission to deal with the fallout from In August he had posted a message to Twitter stating that He had obtained funds for a private takeover of the company. This claim quickly fell into doubt. (Mr. Musk later explained in a blog post that discussions with Saudi Arabia's sovereign wealth fund had made him believe that he had both money and money. Enthusiasm for such an agreement.)
Under this settlement, Tesla agreed to add two independent directors to its board of directors and to appoint a new chairman, separating these responsibilities from the position of general manager. Mr. Musk, by next Tuesday. The company also had to establish a standing committee to monitor Mr. Musk's public statements, including his Twitter postings.
Erik Gordon, a professor at the Ross School of Business at the University of Michigan, announced the appointment of Ms. Denholm "technically compliant" with the SEC regulation, but questioned Ms. Denholm's ability to counter a personality as powerful as Mr. Musk.
"If the goal is to provide adult surveillance, it will not do it," said Gordon. "She has been on the blackboard through all the shenanigans She has never resigned in protest and is a supporter of musk If it does not work, she will go away
David Whiston, a Morningstar badyst who follows Tesla, said that the nomination was "a good balance" and was probably the best for Tesla's stock price.To bring in a fearless alien "who would not accept the absurdity of Elon on Twitter", he added, "would run into Elon and it would not work at all".
The Tesla stock was up about 1% in the afternoon. Thursday, 19659002 Yet Mr. Whiston also expressed doubts about Mrs. Denholm's ability to control Mr. Musk. In recent weeks, the chief executive has referred to the SEC on Twitter as " Shortseller Enrichment Commission " and then announced that he had no more title at Tesla, this which raises questions as to whether he would continue to have the last word even with a new head of the board.
"I am troubled to find that since colonization, Elon has already made fun of the SEC twice," Whiston said. He added that Musk should "stop playing games and just make cars."
Tesla's new president has extensive experience in technology. Prior to her current position at Telstra, Denholm spent approximately a decade as a senior executive at Juniper Networks, a computer network hardware manufacturer.
She also has experience in the automotive sector. She spent seven years at Toyota Motor Corporation Australia, where she held the position of National Finance Manager, before leaving for Sun Microsystems in 1996, a Silicon Valley plant later acquired by Oracle.
Tesla stated that Ms. Denholm would be leaving her position. Telstra once its six month notice period has elapsed.
Whiston stated that Mrs. Denholm's plan to leave Telstra "testifies to Tesla's commitment to ensuring that this oversight is done properly". making it less likely to confront Mr. Musk. "It will be a job she will not want to lose," he said.
Musk announced the change in a typical way – on Twitter.
In the Tesla announcement, Mr. Musk cited Denholm's experience and years with her company. "Robyn has extensive experience in the technology and automotive sectors, and has made significant contributions to the Tesla Board of Directors over the past four years in helping us become a profitable business. I look forward to working even more closely with Robyn as we continue to accelerate the advent of sustainable energy. "
million. Musk galvanized investors and the public imagination with its sleek electric cars and big dreams of space travel and other ambitions. But his public statements have increasingly bothered Tesla's shareholders and the directors who represent them. Tesla's production problems only added to these concerns
In addition to his embarrbading tweet about a buyout, Mr. Musk was showing other signs of stress. He had a fierce social media battle with a British diver involved in the daring rescue of 12 boys in a flooded cave in Thailand this summer – a drizzle that he was to return quickly to his return.
In August, Mr. Musk told The New York Times that this year was "the most difficult and painful year of my career", partly because of the pressure from the Tesla running, and that he had sometimes slept the drug for insomnia Ambien. Some board members worried that the drug was contributing to his late sessions on Twitter
In September, he appeared to be smoking marijuana briefly during an interview with comedian Joe Rogan. (The interview took place in California, where marijuana use for recreational purposes is legal.)
The S.E.C. This settlement was aimed at resolving some of these concerns. Last month, Tesla released positive financial results, suggesting that he is beginning to solve some of his problems.
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