Tesla in turmoil: Stock plunges after executive shakeup

Share

Tesla's top accountant announced Friday he was stepping down after a month on the job, citing the electric vehicle company's frenetic pace.

The company, hurt in the past month by Musk's high-profile U-turn on a deal to take it private, said Chief Accounting Officer Dave Morton resigned, citing discomfort with the level of public attention and pace.

"I can not answer questions about potential future products".

And CEO Elon Musk was filmed smoking pot and drinking whiskey during a 2-1/2-hour interview on Thursday with Joe Rogan, a comic and martial-arts color commentator. His first day of work was August 6, one day before Musk's Twitter pronouncement about going private, an initiative that surprised even Tesla's board. "I don't actually notice any effect". He knows a lot of people like weed, but "I don't find that it is very good for productivity", he tells Rogan.

Later on Friday, Tesla named a new president of automotive operations, promoting eight-year Tesla employee and former Daimler truck exec Jerome Guillen into the role overseeing all automotive operations and reporting to Musk. Morton worked for the company for only a month.

He went on to say that running Tesla was the "hardest" job he has: "It's very difficult to keep a auto company alive".

More news: Elon Musk And Joe Rogan Smoke Marijuana During Live Podcast Interview

"You probably can't do this because of stockholders, right?", Rogan asked, to which Musk nonchalantly shrugged.

Several media outlets incorrectly reported that the U.S. Air Force was reviewing Musk's security clearance after the video of him smoking published online, since his company SpaceX provides services to the government, Reuters reported.

An ex-Tesla employee who says she was sacked for testing positive for THC, the ingredient found in marijuana, called CEO Elon Musk's decision to smoke marijuana during an interview a "slap in the face". Morton, who joined Tesla on August 6, was quoted in a company filing on Friday saying he believes "strongly" in Tesla and that he had no disagreements with the company's leadership or its financial reporting. Over 21/2 hours, Musk discussed technology, unsheathed a sword and accepted what Rogan, a stand-up comedian, described as marijuana inside of tobacco.

Musk has said the company is producing more than 5,000 Model 3 electric cars per week, and cash generated from the sales will bring sustained quarterly profits.

The latest drop in Tesla's stock has caused Consumer Edge analyst James Albertine to call for the company to appoint another senior leader to support Elon Musk. Since the start of the year, 41 executives have left, according to CNBC. Although he abandoned the idea less than three weeks later, he remained under investigation by the SEC.

"We decided to make it real and dig a tunnel under LA and then other people asked us to build tunnels, so we said yes", he said.

Share