Tesla bull and investor Ross Gerber has pulled out of his bid to become a member of the automaker’s Board of Directors, he announced today.
“After careful consideration, I’ve decided to withdraw my nomination for the Tesla BOD,” Gerber Tweeted. “As a friendly activist, I feel that shareholders have been heard.”
Gerber pushed heavily for Tesla to make several changes last year, including the creation of a new Public Relations department, fixing customer service shortcomings within the company, and planning for who would ultimately take over for CEO Elon Musk when he eventually relinquishes his position.
Gerber has been bullish on Tesla for many years and owns a significant number of shares. His care for the automaker is evident on his Twitter feed, and hence his relatively short-lived run for a spot on the Board of Directors was met with criticism and support all across the community.
While some were not supportive of Gerber’s wishes to change how the company was run, some saw his potential position as a way to get a shareholder with a massive platform and a real-world owner into the company’s DNA.
Ross and I shared love of Tesla and humongous respect for what Elon has achieved for Tesla. Tesla will be the most consequential company of our era. https://t.co/cqKsJOq1Ib
— KoGuan Leo (@KoguanLeo) February 1, 2023
Moving forward, Gerber said he is looking forward to the developments of this week’s Investor Day, where Tesla will unveil the third portion of its Master Plan and potentially discuss some monumental changes in the company’s plans to reach mass scalability through a more affordable vehicle platform.
Analysts suggest the Investor Day could shed some real light on how dominant Tesla could be in the coming years as competition continues to heat up in the sector.
Gerber said the bid for a seat on the Board of Directors was not a total failure. When I apologized to him that it didn’t work out as planned, he replied, “It did work out…more to come.”
It did work out… more to come.
— Ross Gerber (@GerberKawasaki) February 24, 2023
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