Tesla appoints Airbnb co-founder Gebbia to board

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Tesla appoints Airbnb co-founder Gebbia to board

On Tuesday, Tesla said that Joe Gebbia, a co-founder of Airbnb, has joined the electric vehicle maker's board, months after stepping down from his full-time role at the vacation rental company.

The board strength at the world's most valuable automaker has been raised by the appointment.

Larry Ellison, co-founder of Oracle Inc., did not stand for re-election at the company's annual shareholder meeting in August, which reduced the board's size to seven.

In a regulatory filing before the meeting, the company said it would look at the board's size and composition over time.

The company said that Gebbia, 41, has waived all entitlement to cash compensation and has agreed to not take any stock-based rewards until July 2023, and that he will not take any stock-based rewards until July 2023.

In July, Gebbia said he would take a advisory role at Airbnb, stepping away from his full-time role after 14 years at the company. In a blog post accompanying the filing, Tesla said Gebbia has begun work on his next startup and hasn't elaborated further.