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By choosing Robyn Denholm to keep Elon Musk under control, the Tesla Inc. Board of Directors Ended with one of the top leaders who has risen through the ranks of multinationals' financial departments. Those who know her say that her simple methods may be what Tesla needs.
"Everything about her is rational, reasonable and warm. I'm not surprised she's getting the job, "said Scott McNealy, co-founder and former president of Sun Microsystems, in a phone interview." If Elon listens to him, he'll be much more successful. "
As president of Tesla, Denholm, 55, will be responsible for retaining the famed CEO Musk while guiding an electric car maker that is still in a phase of expanding volume and vulnerable to financial difficulties. As Tesla has just celebrated an explosive quarter – recording a rare profit – many analysts expect further capital increases before the company is stable again.
Denholm began his career at Arthur Andersen in audit and accounting services, then left the firm for a position in the finance department of Toyota's Australian subsidiary. She joined Sun in 1996 and spent 11 years there, including the first group of leaders of the pioneering computer company. She refused to be interviewed.
Musk, 47, is a classic type of Silicon Valley founder, a quirky, product-centric visionary. The presidents who supervise them have often been themselves CEOs, or corporate leaders in other strategic roles. A president with a background in finance is not as common – although in the case of Tesla, it could actually be a strength: the relationship with the financial community is precisely what the builder seeks to improve.
"She seems to be extremely competent in financial communication," said Jeffrey Sonnenfeld, a leadership expert, who teaches at the Yale School of Management. "Of the possible choices, I think they made the best choice. His strengths are not his and vice versa.
Yet some consider Denholm too close to Musk. Tesla's independent director since 2014, she was part of a board that did not stop the CEO's erratic actions this year, including her problematic tweets from August on trying to take over the company on her own. An agreement with the US Securities and Exchange Commission on this issue stipulated that Tesla needed to strengthen a board that had long been criticized for its tight alignment with its billionaire leader.
Denholm "provides a potential spark for change," said Gene Munster of Loup Ventures in a note. But Tesla must act on other actions, including sending half of the board to bring in directors with manufacturing experience, he said.
After Sun, Denholm worked at network equipment manufacturer Juniper Networks, where she was executive vice president and chief financial and operations officer. Its technological experience is an asset: Tesla's cars are constantly benefiting from new features via live software updates, and the company's batteries are increasingly being sold to utility companies. Denholm has also served on the board of directors of ABB Ltd., the Swedish-Swiss multinational that works closely with the public services.
"Robyn is very smart, tough and honest," said William F. Meehan, a lecturer in strategic management at Stanford's Graduate School of Business, a Juniper administrator while she was working there.
Denholm joined Telstra, Australia's largest telephone company, in January 2017, as chief operating officer and assumed the role of chief financial officer on 1 October. His decision to retire from the position of CFO quickly surprised many people; Last month, she told the Australian press through a spokesperson that she was not running for the position of chairman of Tesla's board. Denholm, who is married and has grown children, lives in Sydney and it is unclear if she will return to California for the position of president.
"Robyn is brave but very practical. If she believes in something, she's fighting for her, it's not a flaw, "said Joe Pollard, Telstra's former marketing director, in an interview. "She's still focused on" how are we going to solve this problem. "Nothing has ever been forgotten and she will always speak for the customers, the company and the employees."
Like Silicon Valley, the Australian business community still has a lot to do in terms of gender equality. Denholm is eager to encourage more women to science, technology and engineering.
"She does not belong to the culture of the brothers and yet is not a naive person parachuting from the outside," said Sonnenfeld of Yale. "It's a rare news section on good governance."
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