Tesla decided to replace Musk as head of the board of directors

Tesla decided to replace Musk as head of the board of directors

November 8, 2018 0 By autotimesnews
The new chairman of the board of directors of Tesla Motors will be Robin Denholm, who will replace Elon Musk in this position. It is reported by the press service of the American manufacturer of electric cars.

Previously, Robin Denholm served as an independent member of the board of Tesla, and also worked as the financial director of the largest Australian telecommunications company Telstra. She will have to leave her last post in order to “fully concentrate on her new responsibilities.”

Earlier, Elon Musk was removed from his post as chairman of the board of directors of Tesla Motors without the possibility of reinstatement for three years. In particular, Musk you accused the organization of providing deliberately incorrect data on the volume of production of cars, which has led investors astray.

In addition, in August, Musk tweeted his intention to buy back Tesla shares and make the company non-public, but later abandoned these plans. While this statement has caused a fall in stock prices Tesla.

As a result, Mask was removed from the post of head of the board of directors and was awarded an internal fine of $ 20 million. In addition, he was obliged to continue to monitor his statements on social networks, which may affect the company’s market value.