Tesla co-founder and former Chief Technology Officer JB Straubel is returning to the company’s board after leaving in 2019 to establish Redwood Materials, a firm focused on building a North American battery supply chain.
Tesla disclosed the news in a filing with the Securities and Exchange Commission (SEC) regarding the company’s annual shareholder meeting.
The company stated that Hiromichi Mizuno, a current Class I director and head of Japan’s Government Pension Investment Fund, would not be seeking re-election to the board, and Straubel has been nominated to replace him. Straubel is widely credited with helping give Tesla a technological edge in battery and power electronics.
He played a crucial role in the development of Tesla’s battery technology during his 14 years with the firm, leading the design, engineering, and production of battery cells. He was also involved in the creation of Gigafactory Nevada and was instrumental in the production ramp of Tesla’s Model 3.
After leaving Tesla, Straubel founded Redwood Materials, which aims to build a circular supply chain to reduce reliance on fossil fuels. The company’s mission aligns with Tesla’s goal of accelerating the world’s transition to sustainable energy.
Straubel’s operational experience and engineering expertise make him an ideal candidate for the board and an important asset in Tesla’s mission to promote clean energy.
Tesla’s former CTO JB Straubel to return
Tesla CEO Elon Musk has had a strained relationship with other co-founders of the company, with Straubel being a notable exception. Musk has spoken positively about Straubel, even after his departure from the automaker.
Straubel’s return to the board is seen as a positive development for the company, particularly given his expertise in battery technology and sustainability.
The move to bring Straubel back to the board comes as Tesla faces increased competition from traditional automakers and new entrants to the EV market. The company’s stock has been volatile in recent months, with some analysts questioning its valuation.
However, Tesla’s dominance in the EV space is not in question, and the company’s focus on sustainability aligns with growing global efforts to combat climate change.
Straubel’s return to the board is viewed positively by analysts and industry experts. His expertise in battery technology and sustainability aligns with Tesla’s mission to promote clean energy, and his operational experience and engineering expertise make him an ideal candidate for the board.
The move comes at a critical time for Tesla as the company faces increased competition and scrutiny, and the EV market continues to grow and evolve.
Tesla, Inc. is an American electric vehicle (EV) and clean energy company. The company designs, develops, manufactures, and sells electric cars, battery energy storage systems, and solar products.
Tesla is known for its innovative technology, particularly in the development of electric cars, and has been a leader in the push for clean energy and sustainable transportation.
