Elon Musk has a new boss at Tesla!????The Wall Street journal reports that Musk, the controversial billionaire and CEO of Tesla will be replaced as chairman by Robyn Denholm.????Denholm, who is a Telsa Board member will make the transition over the next 6 months.??She currently is the chief financial officer of the Australian telecommunications company, Telstra.????Tesla makes the move ahead of their November 13th deadline to comply with an agreement made with the U.S. Securities and Exchange Commission following claims that Musk misled investors.
Along with $20 million fines each paid by Musk and Tesla, the company was required to replace the maverick billionaire as the head of the board for a period of 3 years.
Musk will however remain as chief executive officer.????While Denholm has been part of Tesla’s board since 2014, she was seen as having the least ties to Musk.
Experts see her challenges as having to manage the billionaire but still allow the unconventional Musk to raise capital which has been key to the car maker’s success.