Tesla’s 2023 Cyber Roundup, the company’s Annual Shareholder Meeting, will take place later today. Expectations are high that the event will involve Musk and the electric vehicle maker discussing several critical topics.
Here are some expectations for the 2023 Cyber Roundup.
Musk’s Commitment
Musk enjoys taking on challenging tasks, which is likely one reason why he chose to acquire Twitter at a high price. While Musk has stated that the new Twitter CEO will allow him to focus more on Tesla, concerns remain about his ability to dedicate more time to the EV maker.
After all, Musk has expressed his desire to start other projects, such as an AI startup that can compete with OpenAI. Gene Munster, managing partner at Deepwater Asset Management and a longtime TSLA bull, shared his thoughts on the matter. “He could spend more time with X.AI Corp. He has a passion for AI,” he said.
A Potential Successor
The topic of Musk’s successor as CEO of Tesla has been heavily debated, with critics arguing that the EV maker relies too heavily on Musk’s leadership. It is not surprising, then, that TSLA investors are expected to vote on a shareholder proposal for Tesla to publish a report on “Key-Person Risk.” The proposal aims to identify critical individuals within the company and establish succession processes.
Interestingly, Tesla director James Murdoch mentioned in court last November that Musk had identified a potential successor. The Wall Street Journal, citing insider sources, suggested that Zachary Kirkhorn, Tesla’s CFO and the person responsible for the company’s impressive profits in recent years, is shortlisted to be Musk’s successor.
JB Straubel’s Return
To say that JB Straubel is an important figure in Tesla would be an understatement. Although Straubel left his position as Tesla’s CTO to start battery recycling firm Redwood Materials, he is now being nominated as a member of the company’s Board of Directors. Munster noted that Straubel is also considered a potential successor to Elon Musk.
Straubel’s appointment as a board member of Tesla has faced some opposition, with proxy firm Glass Lewis recommending that TSLA shareholders vote against his appointment. Numerous Tesla bulls, however, have expressed excitement at the idea of Straubel returning to the electric vehicle maker.
Other Expectations
Similar to previous annual shareholder meetings, the 2023 Cyber Roundup will likely involve a discussion about the company’s future by CEO Elon Musk. It will not be surprising if Musk discusses certain aspects of future products, such as the Cybertruck and the highly anticipated compact Tesla, which will be manufactured in Giga Mexico.
The 2023 Cyber Roundup will be held on May 16, 2023, at 3 PM CT at Gigafactory Texas.
Below is a link to the livestream of the 2023 Cyber Roundup.
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