Sunday , June 13 2021

Tesla: who is Robyn Denholm, the woman who replaces Elon Muska | Economics Business



Robyn Dehholm's first task was to supply gasoline to cars in Milter, New South Wales (Australia), at a service station owned by their parents.

This week she was appointed deputy Elon Muska as chairman of the board of Tesla, the company said in a statement.

This 55-year-old accountant is not a novice in this company specializing in the production of high-end electric cars.

From 2014, he was a member of the company's management board and was among the best-paid: last year he collected almost USD 5 million, mainly in shares.

Denholm, who was also the head of the Tesla audit committee, He came to this position under a contract between the company and the US regulatory authorities as a consequence of some controversial comments made by Musk on social networks, which announce plans to buy back the company's shares and prevent its trading on the stock exchange.

His words caused a sharp increase in the value of the shares, but a few weeks later the letter withdrew.

The authorities then opened documentation on alleged fraud, which was terminated by a contract that included a $ 40 million fine, of which the company must pay $ 20 million, and Musk must do the rest.

The businessman had to resign from the position of the president of the board for three years and leave this position in the hands of someone "independent".

Then Denholm appeared.

FROM AUSTRALIA TO THE ROYAL VALLEY

Denholm's professional career began at the consulting firm Arthur Andersen, where he began working after studying economics at the University of Sydney.

Then it was reserved by Toyota's subsidiary, Toyota, where it worked for seven years, until the first time she jumped to California. to work in the Sun Microsystems programming company, where he climbed to the position of vice president.

She continued her career at Juniper Networks, a multinational company dealing in networking and security systems, where she was executive vice president and financial director.

In 2017, she returned to Australia to become a financial director at Telstra, the largest telecommunications company in the country.

Over the next months, he will continue to work in this company before taking on his new role exclusively at Tesla.

Too close to Musk – the appointment of Denholm as the new chairman of the Board of Directors of Tesla met with various assessments.

"Robyn has extensive experience in both the technology and automotive sectors as well as a board member over the last four years he has made a great contribution to help us become a viable company"said Musk, who will maintain his position as CEO of Tesla.

Some analysts consider him to be decisive in choosing Denholm.

"I think Musk had a lot in common with the national team and wants to be sure that they can understand each other," said Chaim Siegel of Elazar Capital.

Stephen Diamond, professor of corporate governance at the University of Santa Clara (California), does not expect the Denholm authorities to take part in the dispute, because the notion of "independence" is generally interpreted loosely.

"But this violates the spirit of the agreement, which was aimed at changing the culture of the board of directors in such a way that there is a counterbalance to the worst Musk instincts – Reuters scientist warned.

Garrett Nelson from the CFRA research company, however, thinks it is logical that Tesla is trying to avoid the risk of calling a real outsider who eventually collides with Musk.

"We see positively that Denholm has previous experience in the industry, working with Toyota," said Nelson.

It seems that this previous experience is one of the elements that draw Denholm the most to work in Tesla.

"I love being part of Tesla's board because it combines many things that I love. like energy and technology, "he said in an interview in January from Odgers Berndtson's website.

"Exciting in Tesla is that it is a company that affects entire sectors, not the specific technology and it is a rapidly changing environment," he added.


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