Tesla announce Australian accountant Robyn Denholm replaces banned Elon Musk as chairwoman

Tesla CEO Elon Musk

Musk also retweeted Tesla's announcement saying he has great respect for Denholm and looks forward to working with her.

Musk resigned as Tesla chairman in October under an arrangement with United States 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.

"She's from Musk's inner circle and is unlikely to put obstacles in the way of decisions", Schwope said.

Musk, 47, has been pressured into relinquishing his position as chairman but will remain as CEO in day-to-day control of the electric vehicle company.

"She was there while all of this was going on", said Charles Elson, director of the corporate governance center at the University of Delaware.

The carmaker last month quieted some critics after it reported a net profit, positive cash flow and wider-than-expected margins in the third quarter, delivering on Musk's promise to turn the company profitable.

Elon Musk was sued in September for claims of misleading investors after posting a Tweet about taking the company private.

Musk will help ease the new board director's transition, Tesla said.

Musk will remain as Tesla's chief executive as part of the settlement deal with the U.S. Securities and Exchange Commission.

Interested in Tesla? Add Tesla as an interest to stay up to date on the latest Tesla news, video, and analysis from ABC News.

Police arrest woman who spent £16m in Harrods
She will will appeal the decision to refuse her bail at London's High Court today, the Crown Prosecution Service (CPS) said. The wife of a disgraced banker jailed in Azerbaijan for 15 years has been arrested in London and faces extradition.

Kardashians Evacuate Calabasas Amid California Wildfires: 'Pray Everyone Is Safe'
According to TMZ , Kim was returning from a visit to San Quentin Prison in northern California when she spotted the blaze. The KUWTK reality star shared a series of posts detailing how she and her family had an hour to evacuate their home.

Rashida Tlaib is first Muslim woman elected to U.S. Congress
Christine Blasey Ford in a three-decades old drunken allegation against then-Supreme Court nominee Brett Kavanaugh. American voters have made history by sending two Muslim women to Congress for the first time .

The Wall Street Journal reports Denholm has fewer ties to Musk than other directors, perhaps making it easier for her to oversee the eccentric billionaire.

"You really have got to wonder", he said. By all accounts, Denholm is a canny operator who knows how to make public companies work, and how cars are made.

Denholm has been on the board of Tesla since 2014, and has been the head of the company's audit committee.

Ms Denholm already is on Tesla's board.

Since then, she has worked at Swiss power grid maker ABB Ltd, network gear firm Juniper Networks and 1980s and 90s computing giant Sun Microsystems.

Took risks in shifting industries: After spending almost five years with the Big-5 accounting firm Arthur Andersen, Robyn switched industries and joined carmaker Toyota in Australia, where in just seven years, she became one of the top executives in the country. The funding, which Musk later said was to come from the Saudi Arabian private wealth fund, turned out not to be secure.

Cusumano further notes that Denholm's track record as a Tesla board member is not necessarily an indication of how she'll be as a chairwoman.

"She's had a ringside seat to the chaos and she didn't or was not in a position to change anything", Professor Cusumano said.

"It really is a restricted position".

Related news:

Hot News

isis-killer-beheading-video-story-top Delhi bans trucks as mega-city chokes
Nov 10, 2018 - 04:27
The quality of air in Pitampura, Airport, Terminal 3 and Delhi University stood at 679, 481 and 801 respectively. This air will seriously affect those with ailments, according to the advisory issued by SAFAR.

isis-killer-beheading-video-story-top Predicted XI: Manchester City vs Manchester United
Nov 10, 2018 - 04:04
Manchester United manager Jose Mourinho: "If we keep conceding [opening] goals the day will arrive where we can not come back". We'll speak with the players about what we guess will happen and suggest what we should do to win the game".

isis-killer-beheading-video-story-top Donald Trump Midterms Morning-After Tweetstorm: Make Nancy Pelosi House Speaker
Nov 10, 2018 - 03:43
Nationwide, the Democrats won close to two-thirds of all the Senate races and garnered 57% of the nationwide vote for that office. In Georgia, their candidate, Stacey Abrams, pointed to missing votes and allegations of voter suppression in refusing to concede.

isis-killer-beheading-video-story-top No more AIADMK protests over Sarkar as controversial scenes removed: Minister
Nov 10, 2018 - 03:30
They added the cuts in the digital copies of the film for all theatres can be made online from Chennai itself. The film is produced by the Kalanithi Maran-owned Sun Pictures, and also stars Keerthy Suresh and Radharavi.

isis-killer-beheading-video-story-top Google CEO announces new action plan following Andy Rubin fiasco
Nov 10, 2018 - 02:30
Some teams had imposed "two-drink limits", he said, while others had introduced a ticketing system to stop alcohol flowing freely. Walkout organizers applauded the progress on sexual harassment but said they would not let up on the other issues.

isis-killer-beheading-video-story-top Billboard names Ariana Grande 2018 Woman of the Year
Nov 10, 2018 - 02:28
It's been a rough few weeks for Ariana, but Billboard is recognising the incredible artist for her smashing year on the charts. With backing vocalists matching her clothes and every move, the girls are giving us major First Wives Club vibes.

isis-killer-beheading-video-story-top N. Idaho woman over 50 is state's first flu death of season
Nov 10, 2018 - 02:16
The Center for Disease Control and Prevention recommends that everyone ages six months and older get vaccinated for the flu virus. Previous year over 12 thousand Canadians were hospitalized as a result of the flu and there were 3,500 related deaths to the flu.

isis-killer-beheading-video-story-top Flu Immunization Clinic Available for Those Without Health Insurance
Nov 10, 2018 - 02:06
This year, many communities are reporting cases of the flu already, and some have even reported deaths attributed to the flu. Visit nhs.uk/staywell for more details on how to help you and your family stay well this winter.

isis-killer-beheading-video-story-top United States election: Florida Democrat calls for recount in tight Senate race
Nov 10, 2018 - 01:32
Trump claimed Nelson never called "to ask for my help" with Florida's problems and hailed Scott's response to hurricanes. Update: Marco Rubio's steamed about how Broward and Palm Beach counties are handling their responsibilities.

isis-killer-beheading-video-story-top Justice Ruth Bader Ginsburg released from hospital after serious fall
Nov 10, 2018 - 01:32
The Supreme Court said Friday that 85-year-old Justice Ruth Bader Ginsburg is home after being released from the hospital. She did perform some work in her hospital room Thursday night, though, officials said.

isis-killer-beheading-video-story-top MLB All-Star Bryce Harper announces social media fast
Nov 10, 2018 - 01:12
According to Jorge Castillo of the Los Angeles Times, the Dodgers tried to acquire Harper twice during the 2018 season . For those of you without a math degree, $35 million per year over a 13-year period would be $455 million.

isis-killer-beheading-video-story-top Jeff Sessions steps down as US attorney general at Trump’s request
Nov 10, 2018 - 01:08
Others have said that Whitaker's appointment is unconstitutional , since Trump didn't seek the Senate's advice and consent. When asked if Whitaker should recuse himself , Prior said, "No, I think there is no reason to recuse".

isis-killer-beheading-video-story-top US Confirms It Will Send A Rep To Moscow Summit
Nov 10, 2018 - 00:30
He said Pakistan had tried to convince the United States that any help to resolve the Afghanistan issue should be welcomed. They will not hold "any sort of negotiations" with the delegation of Kabul administration, he said.

isis-killer-beheading-video-story-top Democrats Seek Hearing on Trump's Ouster of Sessions
Nov 09, 2018 - 23:10
The Portland Press Herald reported that rallies also were held in Bangor, Belfast, Brunswick, Kittery, Lewiston and Rockland. Nevertheless he appealed to Republicans not "beholden" to Donald Trump to reign in any attempt to fire Mueller .

isis-killer-beheading-video-story-top Airlines that fly the Boeing 737 MAX
Nov 09, 2018 - 23:09
The plane is also in operation around the world from Air Italy to China Southern. A Lion Air jet clipped a lamp post at an airport in Sumatra on Wednesday night .