Tesla board member to step down at Annual Shareholders Meeting

Tesla board member Hiromichi Mizuno announced this morning that he will step down from the position at the company’s upcoming Shareholders Meeting.

“It’s been an honor to serve on Tesla’s board. Truly exciting to work with the amazing leader Elon Musk and the talented, super dedicated Tesla team, accelerating the transition to sustainable energy and proving that EVs are the future,” Mizuno said this morning. “As I step down at the next shareholders meeting, I’ll continue my journey for a greener and fairer future for all.”

Mizuno served as a member of the Board for three years, joining Tesla in April 2020. Prior to his tenure at the electric automaker, Mizuno was the Executive Managing Director and Chief Investment Officer for the Japanese Government’s Pension Investment Fund, the largest fund in the world, managing approximately $1.5 trillion in assets.

After being welcomed by CEO Elon Musk three years ago, it was apparent that Mizuno was an ideal fit for the automaker. Sharing Musk’s sentiments on short selling, Mizuno once said that the idea of making money on a company’s failures is not consistent with the overall philosophy of investing.

“I never met a short seller who has a long-term perspective,” he said in an interview with Financial Times.

While this mentality is not always shared amongst investors, especially against Tesla, which was the most shorted stock in the U.S. for years, Mizuno was an ideal choice for the Board.

Mizuno recently said that Musk’s mentality on EVs was that, even if another car company came out and put the automaker into bankruptcy, it would be an acceptable fate. “I disagree whenever Elon says ‘I don’t mind Tesla going bankrupt if somebody else comes up with a better car.’”

However, he will now move on, but he said he will still work toward achieving sustainability in his next roles.

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