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Tesla Names Robyn Denholm as Chairman to Replace Elon Musk

wsj.com

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Re: Tesla Names Robyn Denholm as Chairman to Replace Elon Musk

#11

Post by throwaway0255 »

tinco wrote: post #9
swarnie_ wrote: post #7

Earlier quoted context omitted.

Who are "They" and what does the share price have to do with a new Chairman being appointed?

The rest of the board, and supposedly Musk is being replaced to get a little bit more financial responsibility in Tesla. If Ms. Denholm has a bad track record, then that might not be good news, but I would assume Ms. Denholm was not an impulsive choice, and the board has good reason to seperate her abilities from Telstra's bad performance.

> The rest of the board, and supposedly Musk is being replaced to get a little bit more financial responsibility in Tesla.

He’s being replaced as consideration for a settlement agreement with the SEC.

It seems likely Tesla chose Denholm because they have a bad PR problem, and it will be difficult for media companies to portray her as a villain.

Re: Tesla Names Robyn Denholm as Chairman to Replace Elon Musk

#12

Post by Majestic121 »

NamTaf wrote: post #3

They’ve... seen Telstra’s share price, right?

"The announcement late Wednesday comes ahead of a Nov. 13 deadline that was part of Mr. Musk’s settlement with the U.S. Securities and Exchange Commission to end claims he misled investors. That deal required Mr. Musk to step aside as head of the board for three years in favor of an independent chairman."

He is being forced out due to legal issues, I don't think it's a statement from the board against Musk specifically

Re: Tesla Names Robyn Denholm as Chairman to Replace Elon Musk

#14

Post by Uberphallus »

tinco wrote: post #9
swarnie_ wrote: post #7

Earlier quoted context omitted.

Who are "They" and what does the share price have to do with a new Chairman being appointed?

The rest of the board, and supposedly Musk is being replaced to get a little bit more financial responsibility in Tesla. If Ms. Denholm has a bad track record, then that might not be good news, but I would assume Ms. Denholm was not an impulsive choice, and the board has good reason to seperate her abilities from Telstra's bad performance.

It's a self fulfilling prophecy: companies that aren't doing good hire certain C-execs to turn things around, and they don't always succeed. Robyn in particular was hired in the middle of current Telstra drop.

Re: Tesla Names Robyn Denholm as Chairman to Replace Elon Musk

#15

Post by roenxi »

NamTaf wrote: post #3

They’ve... seen Telstra’s share price, right?

Telstra's major asset is a large copper telecommunications network. The government, as a matter of policy, is tearing that network up and replacing it with a publicly owned fiber network. This is not a great situation for Telstra, to say the least.

This has been going on for a while, but a hazy memory suggests there have been shenanigans afoot regarding cash compensation for the damage done - that could cause all sorts of gyrations in the share price. At any rate, the market has become so political I wouldn't read too much in to Telstra's share price without having a detailed understanding of the situation. The board is not in control of the political process.

Re: Tesla Names Robyn Denholm as Chairman to Replace Elon Musk

#16

Post by spuz »

louismerlin wrote: post #13

Awesome Recode Decode interview featuring Musk from last week : https://www.recode.net/2018/11/2/18053428/recode-decode-full...

I'm not sure how you can like this interview. It's extremely combative and the questions from the interviewer seem childish like she is deliberately not listening to Elon's answers. I'm no Elon fan but this is impossible to listen to.

Re: Tesla Names Robyn Denholm as Chairman to Replace Elon Musk

#17

Post by threeseed »

roenxi wrote: post #15
NamTaf wrote: post #3

They’ve... seen Telstra’s share price, right?

Telstra's major asset is a large copper telecommunications network. The government, as a matter of policy, is tearing that network up and replacing it with a publicly owned fiber network. This is not a great situation for Telstra, to say the least. This has been going on for a while, but a hazy memory suggests there have been shenanigans afoot regarding cash compensation for the damage done - that could cause all sor…

Your assessment isn't correct at all.

Telstra sold the copper network to NBN in 2014. And NBN isn't replacing that network at all. They are still using it for FTTC, FTTN and FTTB which will make up the large bulk of the NBN rollout along with HFC which they acquired from Optus.

And it's widely known in the industry that Telstra is positioning itself to potentially buy back the NBN given they recently split the company into two: Retail and Operations.

Re: Tesla Names Robyn Denholm as Chairman to Replace Elon Musk

#18

Post by NamTaf »

roenxi wrote: post #15
NamTaf wrote: post #3

They’ve... seen Telstra’s share price, right?

Telstra's major asset is a large copper telecommunications network. The government, as a matter of policy, is tearing that network up and replacing it with a publicly owned fiber network. This is not a great situation for Telstra, to say the least. This has been going on for a while, but a hazy memory suggests there have been shenanigans afoot regarding cash compensation for the damage done - that could cause all sor…

It's been an issue long before the NBN. Even after the dot-com bust, through the ADSL roll-out era where their wholesale arm had a stranglehold on the network, plus the high speed cable network from Foxtel, they've consistently mismanaged themselves and failed to deliver for shareholders despite their incredible advantages relative to other players.

For example, the T2 float in 1999 was done at about $7.50. It took until about 2014 for the dividend yields to stack up enough that when combined with the share price, T2 shareholders could break even in nominal (not real) terms.

Telstra's management, given its position of advantage in the Aussie telco industry, has been a shambles for a lot longer than the NBN.

Re: Tesla Names Robyn Denholm as Chairman to Replace Elon Musk

#19

Post by dwd »

roenxi wrote: post #15
NamTaf wrote: post #3

They’ve... seen Telstra’s share price, right?

Telstra's major asset is a large copper telecommunications network. The government, as a matter of policy, is tearing that network up and replacing it with a publicly owned fiber network. This is not a great situation for Telstra, to say the least. This has been going on for a while, but a hazy memory suggests there have been shenanigans afoot regarding cash compensation for the damage done - that could cause all sor…

Shenanigans is an understatement. The government "compensated" Telstra for giving up it's network monopoly and after dropping Labor's plan of fiber to the property for existing connections bought the copper network anyway so Telstra double dipped.

I've already had my NBN connection out for a whole week due to a failure in the copper.

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