Joe Gebbia, the Tesla director who exited a board committee that made key decisions about the car maker's future, told Reuters that CEO Elon Musk had...
- Joe Gebbia , the Tesla director who exited a board committee that made key decisions about the car maker's future, told Reuters that CEO Elon Musk had discussed purchasing a house from his start-up and that he was concerned their friendship could be seized on to attack the committee's independence.
Gebbia left the special committee "out of an abundance of caution", citing his personal relationship with Musk and a "potential business transaction" involving Samara that was "currently on hold", according to the filing. Tesla chair Robyn Denholm said in her own statement to Reuters that the board followed Delaware law in setting up the special committee, and that it was committed to strong corporate governance. "Whether and where to reincorporate was clearly a board decision, not a CEO decision," Denholm said.
Wilson-Thompson, who also sits on the boards of drug wholesaler McKesson and footwear maker Wolverine Worldwide, made decisions for Tesla's special committee in consultation with several advisers she tapped, the regulatory filing shows. Since the approval of Musk's payout in 2018, five directors have remained on Tesla's board: venture capitalist Ira Ehrenpreis, former Twenty-First Century Fox Chief Executive James Murdoch, Denholm, Musk, and his brother Kimbal.
The corporate governance experts Reuters interviewed, however, said that staffing special committees with one director was a risky choice, because courts in Delaware have ruled that the sole member has to be above reproach "like Caesar's wife".
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