With a female chairman taking office, is Tesla still named “Ma”?

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Just like Steve Jobs to Apple, Musk is also of extraordinary significance to Tesla for many people. It can even be said that Tesla's brand appeal comes largely from "Iron Man" himself.

However, Musk, who was targeted by the SEC for his willful announcement of the "privatization" news, had to compromise and step down. Recently, Musk finally handed over the position of Tesla chairman (still a director and CEO) after 14 years, and his successor is Robyn Denholm, a little-known independent director of Tesla. She will take office on November 13.

Image source: From Tesla's official website

"I believe in this company and its mission, and I look forward to helping Elon and the Tesla team achieve sustainable profitability and drive long-term shareholder value," Denholm said.

Who is the new female chairman, Denholm?

Prior to Telstra, Denholm held senior management positions at networking systems companies such as Juniper Networks and Sun Microsystems.

Tesla's official website states that Denholm is widely recognized for leading the team that significantly increased Juniper's revenue and led Juniper's corporate transformation during her nine-year tenure as CFO and COO. Her experience also includes numerous financial management positions in the automotive industry at Toyota.

On Wednesday, the woman announced that she would leave Telstra to focus on the role of Tesla chairman and would take office on November 13. After the handover is completed in May next year, Denholm will become Tesla's full-time chairman.

Denholm has been a member of Tesla's board of directors since 2014. He served as chairman of the audit committee of Tesla's board of directors and participated in the $2.6 billion acquisition of photovoltaic power generation company SolarCity in 2016. Analysts pointed out that among Tesla's current insiders, Denholm is the most independent one.

Denholm made some remarks after the appointment was announced. She said, "I believe in Tesla as a company and its mission. I look forward to helping Musk and the Tesla team achieve sustainable profitability and promote long-term interests of shareholders."

Musk later tweeted that he welcomed Denholm to the team and looked forward to working with him.

Will Australia's "Iron Lady" check and balance Musk?

Analysts say that while Denholm is not the most exciting pick, she will bring business expertise to the company's board and will be an important check and balance on Musk.

On August 7, Musk tweeted about taking the company private, but 17 days later, Musk publicly announced on Tesla's official website that he would give up privatization. This change caused Tesla's stock price to experience a series of violent fluctuations. Tesla is currently facing a lot of troubles, not only to deal with the problem of how to increase production, but also to appease investors and deal with the continued impact of Musk's inappropriate remarks.

Appointing a new chairperson is the first step in Musk's settlement with the SEC, which charged Musk with fraud over his controversial tweets. Under the settlement, Musk is barred from serving as chairman for the next three years, and Tesla is required to appoint two independent directors. The selection of these two independent directors may help understand the direct influence of Denholm as the new female chairwoman.

Industry insiders pointed out that there will be a new order within Tesla in the future, and the company's board of directors will filter company communications more strictly and make more objective and comprehensive decisions in corporate governance. On the surface, this Australian "Iron Lady" will take on the responsibility of protecting the interests of Tesla shareholders.

It is reported that shortly after the announcement of the new chairman's appointment, analysts said that if Tesla continues to be profitable for more than 12 months, it will be expected to be included in the S&P 500 index next year.

Is Tesla’s last name still “Ma”?

According to data, there are currently 8 people on Tesla's board of directors besides Musk. Some sources revealed that 5 of these 8 people have connections with Musk and are easily influenced by Musk. The other 3 people do not seem to have much relationship with Musk on the surface.

Five directors who are close to Musk:

Musk’s brother, Kimbal Musk;

Brad W. Buss, CFO of SolarCity, which was acquired in 2016;

Antonio Gracias, SolarCity investor and SpaceX director;

SolarCity investor and SpaceX board member Stephen Jurvetson;

SolarCity investor Ira Ehrenpreis.

The other three directors are:

Denholm, chairman of the audit committee and new chairman of Tesla’s board of directors;

James Murdoch, CEO of 21st Century Fox;

Linda Johnson Rice, CEO of Ebony Media.

According to the settlement agreement between Musk and the SEC, Tesla will have two new independent directors in the future. But even so, analysts say that Musk, as CEO and director, will still hold the core power of Tesla in the future, and the board of directors will still be centered around Musk.

However, it remains to be seen whether Denholm’s joining is just a substitute for the SEC’s three-year chairman ban on Musk or will introduce new ideas to Tesla’s operations.

At this point, Musk's lawsuit against the SEC may be coming to an end, but next, Musk will have to face a criminal investigation by the U.S. Department of Justice. This is because Musk's "privatization" tweet on August 7 made investors spend about $1.3 billion to buy Tesla shares. A lawyer said that if federal investigators find that Musk deliberately deceived investors, he may face criminal charges.

Source: NetEase Intelligent Comprehensive Compilation.

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