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Robyn Denholm Set to Replace Elon Musk As Chairwoman, Tesla Stocks Rise 1 Percent — 6 Points

1. Six weeks ago, Tesla and Chief Executive Officer Elon Musk settled on a securities-fraud lawsuit with the Securities and Exchange Commission that asked Musk to step down as board Chief. On Wednesday, Tesla named Robyn Denholm its news chairwoman.

2. Denholm, the 55 year old, will start her time as chairwoman immediately. She is currently Tesla’s director and chief financial officer of Telstra, which dominates telecommunications in Australia.

3. As part of the settlement, Tesla also had to “add two independent board members and set up a permanent committee to monitor Mr. Musk’s public declarations.”

4. Economic analysts and business professionals speculate how successful Denholm will be in her new role. Many suggest that if her role becomes just to supervise Musk and his antics, she may struggle.

5. Still, the New York Times wrote, “David Whiston, an analyst at Morningstar who follows Tesla, said the appointment of Ms. Denholm was ‘a good balance’ and was probably best for Tesla’s stock price.”

6. Tesla’s shares rose almost 1 percent on Thursday following the announcement.

Source: https://www.nytimes.com/2018/11/08/business/tesla-new-chairwoman-elon-musk.html?rref=collection%2Fsectioncollection%2Fbusiness&action=click&contentCollection=business&region=rank&module=package&version=highlights&contentPlacement=1&pgtype=sectionfront

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