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Tesla appoints his chairman instead of Masak



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3 minutes on November 9, 2018
– Last updated in
November 8, 2018 / 20:25

Tesla announced that Board member Robin Dunholm was appointed Chairman of the Board instead of Elon Mask, more than a month after termination as part of an agreement with US regulatory authorities.

The US Securities and Exchange Commission (SEC) has granted Tesla until January 13th to elect an independent chairman under an agreement with the company. The committee said that Mr Musk's tweets about the company's deregistration were misleading and he would resign as chairman but could retain the post as CEO.

Masak has been a member of the Tesla Board since 2004 and wrote in August that he considered breaking the company's $ 420 per share listing and had arranged the necessary financing for the deal, which later collapsed but attracted attention from the authorities.

Denholm's appointment ends with months of turbulence that seized the company and its share after investors demanded stricter control over Mask, whose public behavior has caused fear of his ability to run the company during a difficult growth period.

Dunholm is currently CFO in Telstra Communications Australia and has been an independent member of Tesla since 2014.

Tesla announced that Denholm would take over its new position in Tesla with immediate effect and resign at Telstra immediately after six months notice of termination.


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