Tesla's Shares Fall 7% Amid Executive Departures and Elon Musk's Smokey Interview

Florence Fletcher
September 11, 2018

But even the notion of a marijuana-smoking chief executive seemed less disturbing to Tesla watchers than the departure of Dave Morton, the accounting chief, whose immediate resignation was reported Friday in a securities filing. This followed a report by Bloomberg on Friday that Gabrielle Toledano, head of human resources, would not return to Tesla after a leave of absence.

A month later, Musk was the centre of attention again when he tweeted that he had secured enough funding to take his electric-car company Tesla private for $420 per share.

"Since I joined Tesla on August 6th, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations", Morton said in a statement.

He said: I think the future in where we are a space-faring civilisation out there among the stars, that is very exciting. It said Mr Morton had no disagreements with Tesla's leadership or financial reporting.

"I'm not a regular smoker of weed", the Tesla CEO said late Thursday on the podcast, which was shown live on the internet. Later, Musk says he doesn't notice any effect from the joint. What I'm saying is that when Musk is bad the tweets are good, and here are the best ones from today's well-deserved social media dogpile.

The chairman and CEO of both Tesla and Space Exploration Technologies Corp., among other companies, recently gave an emotional interview to The New York Times in which he said friends were anxious about exhaustion. He had only been with the company for about a month.

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"Elon's actions are making it harder and harder to support Tesla as a company", said analyst Gene Munster of Loup Ventures.

Musk has security clearance because another of his companies, SpaceX, provides satellite launch services to the USA government. Over 21/2 hours, Musk discussed technology, unsheathed a sword and accepted what Rogan, a stand-up comedian, described as marijuana inside of tobacco. At one point, Rogan, who was smoking cannabis, invited Elon Musk to take a puff.

On August 8, the SEC launched an investigation into Musk's tweet, and investors have launched at least two lawsuits, including one on Thursday, according to the AP. Tesla delivered 40,740 vehicles worldwide in the second quarter - 18,440 of which were Model 3 sedans. Analysts on Friday reiterated their call for Tesla to bring in another senior leader to provide more support as it strives to expand production and potentially raise more capital.

"Is that a joint, or is it a cigar?" a bewildered Musk asked before smoking it on camera.

Tesla chief executive Elon Musk at a news conference on February 6.

In a Friday blog post on the electric-car company's website, Musk announced Jerome Guillen, an eight-year veteran of the company, will now oversee all automotive operations, program management, and the company's automotive supply chain.

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