Airbnb cofounder Joe Gebbia, becomes an independent member of Tesla board of directors. He replaces Oracle chairman and chief technology officer Larry Ellison at Elon Musk’s electric vehicle company.
Ellison and former Walgreens Boots Alliance executive Kathleen Wilson-Thompson joined the board in December 2018 to comply with the terms of a settlement agreement with the Securities and Exchange Commission.
Gebbia joining Tesla’s board could help the company avoid further conflict with the SEC, which has initiated several investigations to determine that Musk and Tesla are still in compliance with their agreement.
Gebbia is a designer who joined Airbnb in early 2007. She stepped down from her operating role at the rental giant in July this year.
However, Gebbia remains on Airbnb’s board and serves as chairman of Airbnb.org, a corporate-affiliated nonprofit organization that provides housing for people who have been displaced in times of crisis, including those affected by natural disasters and global conflict.
Tesla noted in a company blog post, as well as filings with the SEC that Gebbia has waived its right to cash compensation until further notice, and is waging equity compensation through July 2023 until the board decides on appropriate compensation for each member.