Tesla Picks an Insider to Replace Musk as Chair After Turmoil

Tesla Picks an Insider to Replace Musk as Chair After Turmoil

6 years ago
Anonymous $L9wC17otzH

https://finance.yahoo.com/news/tesla-names-director-robyn-denholm-062526232.html

“While Denholm is technically an independent member of the board, she has been part of the Musk team for some time now and that suggests she will not be up to the task of checking Musk’s worst instincts,” said Stephen Diamond, a professor of law at Santa Clara University who specializes in corporate governance. “And, of course, that was the whole point of the SEC settlement.”

Ceding the role of chair was a condition of the accord Musk reached with the U.S. Securities and Exchange Commission in September to settle fraud charges related to his tweets on taking the company private.