Denholm replaces Musk as Tesla board chairperson

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Tesla Inc said board member Robyn Denholm will replace Elon Musk as its chair, more than a month after the billionaire had to step down as the electric-car maker's chairman as part of a settlement with US regulators. She was appointed as Telstra's CFO in July.

Bye, Musk. Tesla just announced a new chair to its board.

A statement from Ms Denholm said she believed in Tesla and looked forward "to helping Elon and the Tesla team achieve sustainable profitability and drive long-term shareholder value".

Musk, who has been on Tesla's board since 2004, tweeted in August he was considering taking the company private for $420 per share and had secured funding for a deal that was later scuttled but attracted scrutiny from several government agencies.

She will give up these positions after serving a six-month notice period to take up a full-time chairman position at Tesla.

Denholm, the chief financial officer of Australian telecommunications firm Telstra, has served on Tesla's board since 2014 but has fewer ties to Musk than most of the company's directors, according to Dow Jones Newswires.

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"The market reacted to this information and Tesla's stock price quickly traded up", said Stephanie Avakian, the SEC's Co-Director of the Division of Enforcement, in a September news conference.

Electric vehicle company Tesla has appointed an executive at Australian company Telstra to chair its board.

Musk resigned as Tesla chairman in October under an arrangement with USA regulators to settle fraud charges stemming from a tweet in which he said he planned to take the company private and had financing to do it.

'I look forward to working even more closely with Robyn as we continue accelerating the advent of sustainable energy'.

Tesla has seen months of turbulence since Musk's infamous tweet.

Musk had to step aside as chairman for three years and was also fined, but was able to remain Tesla's CEO.

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