Michael Donnelly steps down from Gauzy’s board of directors

TEL AVIV - Gauzy Ltd. (NASDAQ:GAUZ), a vision and light control technologies company trading near its 52-week low at $5.47, announced Tuesday that Michael Donnelly has resigned from its Board of Directors, effective immediately, citing personal reasons. The company’s shares have declined over 40% year-to-date, according to InvestingPro data.

In a statement released by the company, Donnelly expressed that it had been "a true privilege" working with Gauzy, particularly during its initial public offering on the Nasdaq. He added that he remains optimistic about the company’s future performance.

Eyal Peso, Co-Founder and Chief Executive Officer of Gauzy, acknowledged Donnelly’s contributions, stating that he had been "instrumental in Gauzy’s growth, and a key figure in the development and implementation of our long-term strategy."

According to the press release, Donnelly confirmed he has no disagreement with the company, its management, or its Board of Directors on any matter related to operations, policies, or practices, emphasizing that his decision was made solely for personal reasons.

Gauzy, headquartered in Tel Aviv with subsidiaries across Germany, France, the United States, Canada, China, Singapore, and the United Arab Emirates, focuses on research, development, manufacturing, and marketing of vision and light control technologies.

The announcement follows previously disclosed updates provided during the company’s Annual General Meeting of Shareholders in August.

In other recent news, Gauzy Ltd. reported a second-quarter earnings miss, prompting TD Cowen to lower its price target for the company to $7.00, down from $10.00, while maintaining a Hold rating. The firm attributed the miss to timing issues but noted that purchase order growth indicates potential for a stronger second half of the year. Meanwhile, Alejandro Weinstein, a longtime investor, has been elected to rejoin Gauzy’s Board of Directors, beginning his term in November 2025. In a significant development, Gauzy’s CEO Eyal Peso and director nominee Alejandro Weinstein purchased a total of 560,000 shares in a private transaction. This acquisition was completed from an existing investor, with Peso financing his share purchase through a personal loan. The move reflects a strong vote of confidence from the company’s leadership. These developments come as Gauzy continues to focus on achieving its long-term guidance.

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