In a surprise move, a high-ranking executive at Tesla Inc. has tendered their resignation, just days before the company’s highly anticipated Robotaxi event. The departing leader, who has been with the electric vehicle manufacturer since 2012, held the position of Chief Information Officer and reported directly to CEO Elon Musk.
During their tenure, the outgoing CIO oversaw the development of Tesla’s data centers in Texas and New York, playing a crucial role in the company’s growth. This latest departure marks the continuation of a trend that began earlier this year, with multiple senior executives leaving the company.
In May, the head of product launches, Rich Otto, resigned after seven years, followed by the senior director of charging infrastructure, Rebecca Tinucci, and the director of new product introduction, Daniel Ho. Additionally, the senior vice president of powertrain and energy engineering, Drew Baglino, and artificial intelligence manager Paril Jain also exited the company.
More recently, in August, Tesla’s Vice President of Finance and Business Operations, Sreela Venkataratnam, departed after eleven years. The company’s stock has struggled in recent months, down nearly 6% over the past year, due to industry-wide demand weakness and increased competition from lower-priced electric vehicles.
Despite these challenges, Tesla’s revenue has grown at an impressive average rate of 41.16% annually over the past five years. Analysts expect the company’s stock to decline by 8.53% in 2025, with a one-year price target of $226.86. However, investors should consider Tesla’s historical performance, which has underperformed the S&P 500 index by 12.46% over the past year.
Tesla’s stock is currently trading at $248.67, up 3.33% on Friday. As the company navigates these changes in leadership, investors will be closely watching to see how it impacts Tesla’s future growth and performance.
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