ZEENAT MOORAD: Welcome to The Baby-Sitters Club
Tesla’s new board chair Robyn Denholm is meant to serve as a counterbalance to wacky CEO Elon Musk
Tesla has a new board chair: Robyn Denholm. Her appointment is meant to serve as a counterbalance to wacky CEO Elon Musk. It is universally hoped that she’ll keep him in check, or at the very least stop him tweeting absurdities at all hours. Musk had to give up being chair as part of a settlement reached with the Securities & Exchange Commission (SEC) after his Twitter meltdown in August. On August 7 he raised the idea of taking the electric carmaker private, saying he had secured funding for a deal at $420 a share. Tesla’s shares soared, but later plummeted as it became apparent that no such plan existed. He was accused of misleading shareholders. The tweet cost him and the company $20m in fines each. The company is also required to add two independent board members and to set up a permanent committee to monitor Musk’s public declarations, including his Twitter posts. Denholm, 55, is highly regarded. She’s the CFO at Australian telecommunications player Telstra, she once worked for...
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