Denholm assumes committee functions held by Brad Buss
According to the electric car manufacturer, Denholm was also named as chairman of the audit committee and member of the compensation and nominating committee as well as member of the corporate governance committee of its board.
Tesla Motors Inc (NASDAQ:TSLA) said Denholm will assume the committee positions of Brad Buss, who will become the CFO of SolarCity Corp (NASDAQ:SCTY). The electric car manufacturer said Buss will remain a member of the board of directors of the company. Denholm will start his role to the board of directors of Tesla Motors Inc (NASDAQ:TSLA) effective August 11.
Tesla Motors expands board
Tesla Motors Inc (NASDAQ:TSLA) expanded its board to seven with the appointment of Denholm. Denholm will be serving the board of Tesla Motors along with Chairman and CEO Elon Musk, Antonio Gracias, Brad Buss, Ira Ehrenpreis, Kimbal Musk and Steven Jurvetson.
She is the second female member of the board of the electric car manufacturer. According to Tesla Motors Inc (NASDAQ:TSLA), the first woman on its board was Laurie Yoler, who served as founding director from 2003 to 2008 when the company was still a closely held startup.
Denholm was recently included in the Silicon Valley Business Journal’s Women of Influence List. She was also a finalist to Bay Area CFO of the Year. Prior to her career at Juniper Networks, Inc (NASDAQ:JNPR), Denholm served as senior vice president of corporate strategic planning at Sun Microsystems.
Tesla Motors settles trademark dispute in China
Tesla Motors Inc (NASDAQ:TSLA) revealed that it reached an agreement to settle the trademark dispute with Zhan Baoshen in China. The settlement removed the big hindrance in the expansion plans of the electric car manufacturer in second-largest auto market worldwide. Elon Musk is anticipating that China will become the largest market for Tesla Motors Inc (NASDAQ:TSLA) in terms of revenue next year. The Chinese government started to introduce encouraging policies that would boost the sales of electric cars in the country. China decided to give up the 10% purchase tax on electric cars.