If you missed the dramatics of the last few months, ex-chairman Musk was forced to resign as part of a settlement with the Securities and Exchange Commission regarding misled investors. Musk had claimed that funding for privatization was secured in August, which was later proven false. Musk was fined for $20 million as well.
Denholm has been a Tesla executive since 2014, with even more experience in the finance and technical fields. She is credited with the increased revenue of Juniper when she served as CFO and had previously worked as CFO and head of strategy of Telstra, an Australian communications firm.
“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.
This news follows a financial report by Tesla, who claimed a net profit of $312 million for the third quarter. This is the largest profit quarter they've ever had. Granted, Tesla has only reported a profit twice since their public launch in 2010. Despite their massive success and heavy revenue, they've churned just about all of their money on increasing production and development. Gotta make money to earn money and what not.
A perfect example of this is with their recent record of car production. Tesla has delivered nearly 70,000 Model 3 units in the third quarter. And with their sights on a new plant in China, it'll only grow more.
Good luck Denholm. Try not to post any discriminating tweets.
