Tesla names board member as board chair to replace Elon Musk

Musk was forced to resign as chairman after the US Securities and Exchange Commission charged him with securities fraud, alleging that he misled investors when he tweeted on August 7 that he had “funding secured” to delist Tesla at $420 a share, a substantial premium over its share price at the time.

The tweet was one of a number of issues that raised questions about the billionaire entrepreneur’s aptness to lead Tesla.

Days after settling with the SEC, Musk mocked the agency, in another tweet that labelled the agency the “Shortseller Enrichment Commission”. That alluded to shortsellers, investors who have bet that Tesla shares will fall and who are frequently the subject of Musk’s derision.

Denholm has been chief financial officer and head of strategy at Telstra, Australia’s former telephone monopoly, since the start of October.

For 18 months prior to that she was Telstra’s chief operations officer, and previously held senior roles at networking equipment company Juniper Networks.

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