Tesla Chairman Robyn Denholm is speaking out in support of CEO Elon Musk and his polarizing Twitter use. In a rare interview, the new seat of Tesla’s board of directors defended Musk, saying that from her point of view, the CEO’s behaviour on Twitter was satisfactory.
“Twitter is a part of everyday business for many executives today. From my perspective, he uses it wisely,” she stated .
Denholm’s remarks about the Tesla CEO followed a speech at the American Chamber of Commerce in Sydney, Australia on Wednesday. Addressing the ongoing issue between Elon Musk and the Securities and Exchange Commission, Denholm noted that she believes Tesla has been doing its best to comply with the terms of last year’s settlement with the agency.
“We think we’ve done everything that we need to do under the settlement, but obviously it’s going into the court and it will go from there. I don’t believe he poses any challenges. The company is running nicely, and the board itself is very engaged. We meet with him all the time,” she added.
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The new Tesla seat was appointed by the business last November following Elon Musk and the SEC’s settlement over the CEO’s now-infamous “funding secured” tweet, which caused a short-lived effort to take the company private. As part of the arrangement, Musk agreed to relinquish his position as chairman of Tesla’s board of directors.
Denholm, a part of this company’s board because 2014, was selected as Musk’s replacement, though she has largely remained under the radar until her recent remarks. Denholm is still serving as the chief financial officer of Australian telecom firm Telstra, a position she is set to relinquish on May 6. She’s expected serve as Tesla’s Chairman on a full-time foundation after.
Denholm’s words of support for Elon Musk comes amidst the CEO and the SEC’s ongoing skirmish. The SEC has argued that Musk has to be held in contempt above a tweet posted last February 19 which said that Tesla would make “around 500k cars” this year. The figure echoed Musk’s statements from the Q4 2018 earnings call last January, but the CEO nonetheless explained in a follow-up tweet the 500k estimate would be true for Tesla’s annualized run rate.
The SEC has claimed the Twitter post violates Musk’s settlement last September, which required that tweets with material information to Tesla shareholders should go through a review process before they’re posted. Musk’s legal team countered that the CEO’s quotes in the February 19 tweet are not material information in any respect, because the estimated figures have been made public since the fourth quarter earnings call.
The article Tesla’s new chairman stands behind Elon Musk’s Twitter usage: ‘He uses it wisely’ appeared first on TESLARATI.
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