Tesla in turmoil: Stock plunges after executive shakeup

Tesla in turmoil: Stock plunges after executive shakeup

Mr Musk spent two and half hours on Joe Rogan's streamed podcast on Thursday night discussing a range of topics including artificial intelligence and social media.

However, Musk admitted that "the electric airplane isn't necessary right now", as he is focusing on other things, including the many issues he's dealing with at Tesla right now.

The interview lasted over two hours and saw the billionaire CEO sip whiskey and talk about everything from AI overlords to emotional lamentations of fossil fuels. He wants to take the concept to another level, however, with supersonic flight paired with vertical take-off and landing (VTOL) capabilities, though he cautioned that solar energy and electric cars are "much more important" for hastening the transition to sustainable energy.

"I think I had one once", Mr. Musk said. Rogan then lit a blunt an passed it to Musk, who took a hit. Rogan told Musk it was a mix of tobacco and marijuana.

The blog posted to the company's website from CEO Elon Musk Friday announced that the company has appointed Jerome Guillen President of Automotive.

Along with his electric auto company, Musk heads up space exploration firm Space X, tunnel construction firm The Boring Company, and Neuralink, which works on augmenting human brains with artificial intelligence. "He brought up specific details such as equity change of control provisions and potential step-ups in the value of Tesla's debt associated with a new controlling shareholder, ' CNBC's Alex Sherman writes".

Left unfilled is the position of accounting chief, following Tesla's announcement that Dave Morton had tendered his resignation from the role earlier this week.

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Secretary of State Mike Pompeo said he did not write the op-ed while speaking with reporters in New Delhi Thursday. So in the administration's view, anonymity in the media is fine so long as it fits the president's agenda.

Tesla's stock was down by more than 5 per cent in morning trading.

Morton's brief tenure with the company coincided with the aborted go-private push.

"Since I joined Tesla on August 6, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations", Morton said on Friday in a statement included in a filling with the US Securities and Exchange Commission.

It wouldn't be the first time that investors were rattled by Musk's unconventional ways, sending stocks haywire. "Before Tesla, Chris ran several ultra high volume factories at PepsiCo", Musk informed, adding that Laurie Shelby, Tesla's VP, Environmental, Health and Safety (EHS) will also report directly to him. "This caused me to reconsider my future".

Tesla has long faced frequent executive turnover as the company faces intense pressure to succeed.

Bloomberg also reported Tesla's Chief People Officer Gaby Toledano would not return from a holiday just over a year after joining. "Maybe he is the best Chief Marketing Officer and Tesla needs a strong new CEO", analyst Frank Schwope at NORD/LB said.

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