Tesla bull and investor Ross Gerber has pulled out of his bid to change into 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 12 months, including the creation of a brand new Public Relations department, fixing customer support shortcomings throughout 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 a few years and owns a big variety of shares. His look after the automaker is obvious 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 weren’t supportive of Gerber’s wishes to alter how the corporate was run, some saw his potential position as a strategy to get a shareholder with an enormous platform and a real-world owner into the corporate’s DNA.
Ross and I shared love of Tesla and humongous respect for what Elon has achieved for Tesla. Tesla might be essentially the most consequential company of our era. https://t.co/cqKsJOq1Ib
— KoGuan Leo (@KoguanLeo) February 1, 2023
Moving forward, Gerber said he’s 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 corporate’s plans to succeed in mass scalability through a more cost-effective vehicle platform.
Analysts suggest the Investor Day could shed some real light on how dominant Tesla might be in the approaching years as competition continues to heat up within the sector.
Gerber said the bid for a seat on the Board of Directors was not a complete failure. Once I apologized to him that it didn’t work out as planned, he replied, “It did work out…more to return.”
It did work out… more to return.
— Ross Gerber (@GerberKawasaki) February 24, 2023