Tesla provides longtime Chipotle govt Jack Hartung to board of administrators

Tesla has appointed longtime Chipotle govt Jack Hartung to its board of administrators, efficient June 1.

As a part of the board, Hartung will sign up for Tesla’s audit committee, the electrical automobile corporate disclosed in a submitting with the U.S. Securities and Exchange Commission on Friday.

The addition comes as Tesla battles sinking EV gross sales and eroding income, and considerations that CEO Elon Musk is focusing an excessive amount of consideration somewhere else, together with in his position main President Donald Trump’s so-called Department of Government Efficiency, or DOGE. The corporate’s inventory value is down 14% this yr.

Musk started his corporate’s profits name closing month through announcing that his time spent working DOGE will drop “significantly” through the top of May, although he would nonetheless spend one or two days per week on his executive paintings till the top of Trump’s time period.

Hartung, who was once identified for taking a disciplined strategy to Chipotle’s price range all over the Covid-19 pandemic, will enlarge Tesla’s board to 9 individuals. Airbnb co-founder Joe Gebbia was once the closing addition to the Tesla board in 2022.

The SEC submitting on Friday famous that Hartung’s son-in-law is a provider technician for the EV maker.

Tesla didn’t reveal information about Hartung’s courting with Kimbal Musk, Elon Musk’s brother. Kimbal Musk sits on Tesla’s board and served at the board of Chipotle from 2013 to 2019, all over Hartung’s tenure.

Hartung held quite a lot of roles on the fast-casual burrito chain, becoming a member of the corporate in 2002 and emerging in ranks to turn out to be its leader monetary officer. Chipotle went public in 2006 and stocks within the corporate are up through greater than 100 occasions since then.

On May 6, Chipotle introduced Hartung would step down from his present position as president and technique leader on June 1, and would keep on in a senior advisory position via early March of subsequent yr.

Tesla posted a remark on social media web page X, which could also be owned through Musk, welcoming Hartung to the corporate.

Hartung serves at the board of the Chicago side road meals industry Portillo’s; good looks and child care merchandise maker The Honest Company; and Zocdoc, a web page for reserving clinical appointments.

Tesla is these days making ready to release its “retro-futuristic” diner in Los Angeles, which have been in building for roughly seven years.