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Robyn Denholm is new Tesla Chairwoman, Musk remains CEO

IANS  |  San Francisco 

company on Thursday announced the appointment of Robyn Denholm, an at Australian firm Telstra, to become the of the Board.

Denholm, 55, takes over the role from who agreed to step down in late September as of for three years and pay a $20 million fine in a deal with the stock market regulatory authority, (SEC) to resolve securities fraud charges.

Musk will remain as Tesla's and the biggest investor.

"Robyn will be leaving her role as at Telstra, Australia's largest company, once her six-month notice period with is complete. Robyn will be serving as Tesla on a full-time basis," Tesla said in a statement.

To ensure a smooth transition during the remainder of Robyn's time at Telstra, Musk will be a resource to her and provide any support that she requests in her role as

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

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

Denholm has served on the Tesla Board as an since 2014.

Her global experience in both and Silicon Valley encompasses leadership roles across a range of companies, including Telstra, Juniper Networks, and

"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," said Denholm.

The US SEC last month announced the deal with Tesla, after it sued Musk in federal court for misleading investors over his post on in August that he had "funding secured" for a buyout of the company at $420 a share, reports

Musk accepted the deal with the SEC "without admitting or denying the allegations of the complaint", according to a court document.

His tweet about taking his company private, along with attacks on critics on social media, raised concerns with investors about whether Musk has become too focused on criticism from so-called short-sellers who had been making bets against him and Tesla.

--IANS

na/sed

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 08 2018. 17:02 IST
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