Tesla appoints Robyn Denholm as new Chairman

Largest Australian telecommunications company Telstra's Chief Financial Officer (CFO) Robyn Denholm has been appointed as the new Chair of Tesla's board of directors. She will succeed Chief Executive Officer (CEO) Elon Musk.

Denholm, who has been a board member of the American electric car manufacturer since 2014, will relinquish her role as CFO and Head of Strategy at Telstra at the end of her six-month notice period.

"I believe in this company, I believe in its mission and I look forward to helping Elon and the Tesla team achieve sustainable profitability and drive long-term shareholder value," Verge quoted Delholm as saying.

Musk showed confidence in Delholm saying, "Robyn has extensive experience in both the tech and auto industries, and she has made significant contributions as a Tesla Board member over the past four years in helping us become a profitable company."

Musk, in September, was mandated to step down as a chairman for his controversial tweet in which he claimed to have secured funding to take Tesla private.

He was also made to pay a fine of USD 20 million after he lost the ensuing lawsuit battle with the Securities and Exchange Commission (SEC), with the latter terming his claims to be "fake and misleading".