Ross Gerber, a vocal Tesla Inc. shareholder, notified the electric-vehicle maker that he plans to pursue a board seat, formalizing an effort aimed at reining in Chief Executive Officer Elon Musk.
(Bloomberg) — Ross Gerber, a vocal Tesla Inc. shareholder, notified the electric-vehicle maker that he plans to pursue a board seat, formalizing an effort aimed at reining in Chief Executive Officer Elon Musk.
Gerber disclosed his intentions in a letter viewed by Bloomberg that was sent Tuesday to Brandon Ehrhart, Tesla’s new general counsel and corporate secretary. The investor, who runs wealth management firm Gerber Kawasaki, previously revealed the plan during an online discussion hosted by Bloomberg on Feb. 10.
Read More: Tesla Shareholder Gerber Pursues Board Seat to Rein In Musk
Neither Musk nor representatives of Tesla immediately responded to requests for comment.
The wealth manager’s firm owned about 440,000 Tesla shares, or 0.01% of the company, as of Dec. 31, according to data compiled by Bloomberg. Gerber also holds some of his own shares privately and has told Bloomberg he had a pledge from Leo KoGuan, who is one of the largest individual investors in Tesla.
Gerber has said he plans to be a “friendly activist” and has a number of goals if successful in joining the board. Those include succession planning, examining compensation agreements and addressing what he perceives as a conflict of interest in Musk running both Tesla and Twitter Inc.
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