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Elon Musk hands Tesla chairmanship to board colleague after SEC deal

“Without Musk, investors may no longer be willing to continue funding a company that has never reported an annual profit.”” reports The company expects to deliver a profit in the last three months of the year as well, Musk told investors in late October.Tesla, an electric carmaker working toward long-term profitability, named board member Robyn Denholm as its chairwoman after a deal with the Securities and Exchange Commission forced mercurial founder Elon Musk to give up the role.She was paid $4.92 million for the roles last year, most of it in stock options.

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