Tesla appoints chairman of its board of directors instead of Masak

Tesla announced the appointment of Robin Dunholm, Board Member, as Chairman of the Board, instead of Elon Mask, more than a month after his resignation as part of an agreement with American regulators.

The US Securities and Exchange Commission (SEC) granted Tesla until January 13 to choose an independent chairman under an agreement with the company. The committee stated that Mr. Musk's tweets about the company's unsubscription were misleading and that he should resign from his position as president but retain the position of general manager.

Mr. Masak has been a member of the Tesla Board of Directors since 2004 and wrote in August that he was considering canceling the company's listing at $ 420 per share and had arranged funding required for the operation, which later collapsed but attracted the attention of government agencies.

Denholm's appointment puts an end to months of turbulence that gripped the company and its shares after investors called for stricter control of Mask, whose public behavior has raised fears about its ability to lead the company during a difficult period of growth.

Dunholm is currently CFO of Telstra Communications Australia and has been an independent member of Tesla since 2014.

Tesla announced that Denholm would immediately assume his new position at Tesla and leave his post at Telstra immediately after six months' notice of resignation.