New Tesla chairwoman Robyn Denholm's tallest order: Shareholders want a more 'boring' Musk
The CNBC article, “New Tesla chairwoman Robyn Denholm's tallest order: Shareholders want a more 'boring' Musk,” featured the firm's research, "In Touch with the Board - What Is It Really Like as a Female Board Member … and Where Do I Sign Up?" The article is excerpted below.
Elon Musk has a new boss, and she is not well-known to the public.
Tesla announced on Wednesday night that Australian telecom executive and chair of Tesla's audit committee Robyn Denholm will take over from Elon Musk as chair of the company. Musk agreed to surrender the position for three years in his settlement with the SEC over fraud allegations that grew out of a Musk tweet claiming he had a deal to take the company private. The deal never materialized and the actual capital commitments Musk said Tesla had lined up have been questioned.
5. Tesla's board has been criticized for a lack of diversity in the past. Denholm has spoken up about diversity.
Tesla's board of directors hasn't only faced criticism about its independence. It has faced criticism for its lack of diversity. It includes seven men and two women, and the only other woman on the board, Linda Johnson Rice, CEO of Johnson Publishing, which owns Ebony, was first added to the board in 2017.
"Having diverse experience and being able to share that diversity of thought is very helpful when you are sitting around the table working through challenges or toward opportunities," she said in a Russell Reynolds Associates report on the perspective of female board members. "Having dissimilarities makes for more robust conversations and probing questions."
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