In an SEC proxy filing, Tesla has said that it wants Robyn Denholm to continue as the chair of its board of directors. Tesla recently announced its stockholder meeting for October 7, and the company cited Ms. Dehnolm’s leadership experience and financial expertise in this push to prolong her role as chair. Tesla stated:
“We believe that Ms. Denholm possesses specific attributes that qualify her to serve as a member of the Board and as its Chair as well as the chair of each of our Audit Committee and Disclosure Controls Committee, such as her executive leadership experience and her financial and accounting expertise with international companies, including in the technology and automotive industries.”
It’s hard to believe that it’s been three years since that 420 tweet and the SEC settlement which required Elon Musk to step down from his position as Tesla’s chairman of the board. Tesla had to replace Elon Musk with an impartial chair for 3 years, and this period ends later this year. Ms. Denholm has been a member of Tesla’s board since August 2014 — a total of 7 years this month.
Earlier this month, Bloomberg reported that Ms. Denholm sold $22 million worth of Tesla shares and speculated that since her three-year term as Tesla’s board is almost up, Elon Musk could potentially resume the role.
Personally, I think she’s done a pretty fantastic job and her being the chairman frees up Elon Musk to focus more on what drives him — engineering. Elon Musk recently said that he will no longer be on Tesla earnings calls by default, which reflects that Tesla is doing exceptionally well. Tesla is standing on its own now and is quite balanced. I think the board sees that, and with the company’s solid growth and success over the past few years, they think that Ms. Denholm should continue in her current position. What do you think?
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