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Tesla appoints Airbnb co-founder Joe Gebbia to board 

Published: 05:50 29 Sep 2022 EDT

Airbnb -
Gebbia is joining Tesla's board as an independent member

Tesla Inc appointed Joe Gebbia, the co-founder of Airbnb (NASDAQ:ABNB), to its board as an independent member, according to a regulatory filing. 

Gebbia’s appointment to the electric car maker’s board follows the departure of Oracle chair and chief technology officer Larry Ellison in June. 

Ellison was added to Tesla’s board in December 2018 in order to comply with a settlement with the US Securities and Exchange Commission (SEC) relating to a tweet by about taking Tesla private by its CEO Elon Musk. 

Following Ellison’s departure, Tesla said it planned to trim the number of board seats to seven. This led to criticism from shareholder body SOC Investment Group about a lack of independent board members. 

Adding Gebbia to the Tesla board may help Tesla avoid further conflict with the SEC, which has initiated multiple probes to determine that Musk and Tesla remain in compliance with their agreement, CNBC reported. 

In its filings with the SEC, Tesla said Gebbia has “waived entitlement to cash compensation” until further notice, and waived “equity compensation until July 2023,” until the board decides on what appropriate equity compensation will look like for each member moving forward. 

Gebbia has not yet been assigned to any Tesla board committees.

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