Tesla adds Airbnb co-founder Gebbia to board




  • In Business
  • 2022-09-28 20:27:34Z
  • By Reuters

(Reuters) -Tesla Inc said on Wednesday that Airbnb Inc co-founder Joseph Gebbia has joined the electric vehicle maker's board, months after stepping back from his full-time role at the vacation rental company.

The appointment raises the board strength at the world's most valuable automaker to eight.

Oracle Inc co-founder Larry Ellison did not stand for re-election at the company's annual shareholder meeting in August, which reduced the board's size to seven.

The company had said it would evaluate the size and composition of the board over time, in a regulatory filing prior to the meeting.

Gebbia, 41, has waived all entitlement to cash compensation and has agreed to not take any stock-based rewards until July 2023, the company said in a regulatory filing.

In July, Gebbia said he would take on an advisory role at Airbnb, stepping away from his full-time role after 14 years at the company. The Airbnb co-founder had in 2018 called Musk's attempt to take Tesla private a "baller move".

In a blog post accompanying the filing, Tesla said Gebbia has begun work on his next startup without elaborating further.

In January, the entrepreneur also bought a minority stake in National Basketball Association team San Antonio Spurs.

(Reporting by Niket Nishant and Akash Sriram in Bengaluru; Editing by Sriraj Kalluvila)

COMMENTS

More Related News

Recent uptick might appease Airbnb, Inc. (NASDAQ:ABNB) institutional owners after losing 39% over the past year
Recent uptick might appease Airbnb, Inc. (NASDAQ:ABNB) institutional owners after losing 39% over the past year

If you want to know who really controls Airbnb, Inc. ( NASDAQ:ABNB ), then you'll have to look at the makeup of its...

Tesla sold 100,291 China-made vehicles in Nov -Xinhua
Tesla sold 100,291 China-made vehicles in Nov -Xinhua

Tesla Inc delivered 100,291 China-made electric vehicles (EVs) in November, the highest monthly sales since its Shanghai factory opened in late 2020, a...

15 Key Moments During Sam Shank
15 Key Moments During Sam Shank's Days at Airbnb-Owned HotelTonight

HotelTonight co-founder and CEO Sam Shank, who steered the hotel booking app even after it was acquired by Airbnb in 2019, recently announced he would be...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Business