• 11 hours Amazon Favored To Win $10 Billion Pentagon Contract
  • 14 hours American Steel Downgraded As Trade War Escalates
  • 17 hours From Gold To Bitcoin: The Evolution Of Money
  • 19 hours Italy Budget "Not Compatible With Commitments That Exist In The EU"
  • 1 day U.S. Deficit Defies Economic ‘Boomtime’
  • 2 days Saudi Business At Stake Over Journalist Murder Allegations
  • 2 days Trump Bails On Coal Industry Incentives
  • 2 days Google Opens Up About "Project Dragonfly"
  • 2 days Retail Sales Rebound, But Is It Enough To Post Positive Earnings?
  • 3 days Stocks Continue To Slide As Economic Fears Fester
  • 3 days Where Does The True Value Of Gold Lie?
  • 3 days Bitcoin Soars Amid Tether Drama
  • 4 days Fake Cheese, Hooters, And Big Banks: The Millennial Market Hitlist
  • 5 days “Enormous Piles Of Cash” Are About To Return To The Market
  • 6 days UAE Approves ICOs As Equities Markets Lose Momentum
  • 6 days Has The Stock Market Reached A Tipping Point?
  • 7 days Why Brazil’s Presidential Election Matters For Markets
  • 7 days Latin America’s Love-Hate Relationship With Crypto
  • 7 days Investors Panic As Market Correction Continues
  • 7 days “Rising Inequality” Could Impact America’s AAA Credit Rating
Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing for news outlets such as iNVEZZ and…

Contact Author

  1. Home
  2. News
  3. Breaking News

Will Tesla Survive Its Executive Exodus?

Musk

Tesla has seen a lot of senior executives depart from the company in recent months, which doesn’t bode well for Elon Musk’s promise of the “short burn of the century comin soon,” short seller Jim Chanos says.

“It is never a good sign when almost all your senior executives are leaving with the stock price at a high,” Chanos said on a Bloomberg Opinion podcast last week.

“That’s telling you there’s something wrong. And I don’t know what it is, but almost all the senior executives at Tesla see something and are leaving stock option packages on the table,” Chanos said.

At the end of last month, Chanos told CNBC:

“Probably the number-one sign of impending problem is mass executive departure, I don’t mean one or two people, I mean 30 or 40.”

The latest news report concerning a senior Tesla executive is that Doug Field, Senior VP Engineering, is taking a leave of absence for a few weeks at a crucial moment for Tesla which is struggling to ramp up Model 3 production and has, again, missed its own production targets while posting another record loss for Q1.

In a statement, a Tesla spokesman said:

“Doug is just taking some time off to recharge and spend time with his family. He has not left Tesla.”

Last month, Musk quashed rumors that Field had fallen out of grace in one of his typical Twitter exchanges. Musk said then that he was back to sleeping at the factory to try to solve production bottlenecks, as ‘car biz is hell’.

Although it’s just a leave of absence, Field’s break comes after several senior Tesla executives recently jumped ship. Related: Asian Markets Up On High Oil Prices And Weak Dollar

Jim Keller, vice president of Autopilot and Low Voltage Hardware, joined Intel as a senior vice president last month.

In February, Jon McNeill, previously President of Global Sales & Service at Tesla, joined Lyft as Chief Operating Officer.

Matthew Schwall, the director of field performance engineering at Tesla, who was the company’s main technical contact with U.S. safety investigators, has just joined the self-driving car company Waymo.

By Tsvetana Paraskova for Safehaven.com

More Top Reads From Safehaven.com:

Back to homepage

Leave a comment

Leave a comment