Shulou(Shulou.com)11/24 Report--

According to the power of attorney filed by Tesla with the US Securities and Exchange Commission on Thursday, Tesla has been appointed senior vice president of automotive business as part of restructuring senior management, and nominated co-founder and former chief technology officer JB Stroubel (JB Straubel) as a member of the board, Beijing time, April 7.

Zhu Xiaotong, ▲, has been appointed senior vice president of the company's automotive business since April 2023, said Tesla, senior vice president of Tesla. Prior to that, he served as Tesla's global vice president and president of Greater China, where he single-handedly promoted the construction of a super factory in Shanghai. In addition, Tesla listed three senior management, namely CEO Elon Musk (Elon Musk), CFO Zakary Kirkhorn (Zachary Kirkhorn) and senior vice president of power systems and energy engineering Andrew Bagrino (Andrew Baglino).

▲ Zhu Xiaotong is one of Tesla's top four executives, while Tesla also reshuffled the board, nominating Straubel as a new director to replace Hiromichi Mizuno, the former chief investment officer of Japan's pension investment fund, who is no longer seeking re-election. Tesla did not disclose the reasons for Hongdao Mizuno's departure. He has been a director of Tesla since 2020.

Tesla said that the addition of Straubel can help Tesla enhance his expertise in clean technology. Stroubel, the co-founder of Tesla, left the company in 2019 to start mahogany Materials, a battery recycling and recycling supply chain company in Nevada. At present, Tesla is seeking to make his own batteries internally, expand businesses other than cars, and sell more and more energy storage systems to homeowners and utilities.

▲ Tesla nominated Straubel as the new director Tesla a total of eight members of the board, of which the longest term is Musk and his brother Kimbal Musk. Other directors include Hirodo Mizuno, Robin Dannon (Robyn Denholm), Ella Ellen Price (Ira Ehrenpreis), Joe Gebbia, James Murdoch (James Murdoch) and Katherine Wilson-Thompson (Kathleen Wilson-Thompson).

Key person risk Tesla will hold a shareholders' meeting on May 16, and the nomination of Straubel's directors is one of the five issues Tesla asked investors to consider at the shareholders' meeting. The proxy contains only one shareholder proposal, compared with eight in 2022. The only shareholder decision came from Karen R ó bertsd ó ttir, an investor in Reykjavik, Iceland, who wanted Tesla's board to prepare and publicly disclose a report on the risks of Tesla's key figures. Tesla often said in documents that the company was "highly dependent on the services of Musk, who has been the company's CEO for a long time", but never disclosed how he would solve his absence.

Tesla urged investors to vote against the proposal, saying it was unnecessary and would undercut the company's competitiveness by highlighting executives whose competitors might want to poach.

In addition, Tesla also disclosed that Musk still did not receive his salary from the company in 2022. Mr Musk pledged about 238 million shares of Tesla, or 58 per cent of his total, to raise debt. That is higher than the 52 per cent that Tesla last submitted his annual report in August 2022, when he had about 268m shares pledged. The document also includes information about changes in its pledge policy, limiting Mr Musk's loan amount.

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