Elon Musk replaced as Tesla chair

Tesla names new chair to replace Elon Musk

Musk said in August he was considering taking Tesla private in a $420 a share and that he had secured funding for a deal that was later scuttled but attracted scrutiny from several government agencies.

Tesla has named an Australian executive as its new chairman after Elon Musk was forced to give up the role.

Ms Denholm is now chief financial officer and head of strategy at Australian telecoms group Tesltra.

The carmaker last month quieted some critics after it reported a net profit and positive cash flow in the third quarter as higher production volumes of its crucial Model 3 sedan began to pay off, delivering on Musk's promise to turn the company profitable.

The announcement comes ahead of a November 13 deadline that was part of Musk's settlement with the U.S. Securities and Exchange Commission to end claims he misled investors.

The appointment of Denholm, who is Telstra's chief financial officer, is effective immediately but she will serve out her six-month notice period with her current employer, Tesla said in a statement late Wednesday.

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The spokeswoman also said Tesla was actively looking for two additional independent directors. She will temporarily step down as chair of Tesla's audit committee until she leaves Telstra, the company said.

Before moving to Telstra, she worked for Silicon Valley firms Sun Microsystems and Juniper Networks as well as consultants Arthur Anderson and Toyota.

'I look forward to working even more closely with Robyn as we continue accelerating the advent of sustainable energy'.

Tesla has seen months of turbulence since Musk's infamous tweet.

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

Musk smoked pot while appearing on The Joe Rogan Experience in September and called the SEC the "Shortseller Enrichment Commission" in an October tweet, after their settlement.

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