Sci-tech

Tesla rocked by latest executive shakeup, Musk's behavior on webcast

Tesla rocked by latest executive shakeup, Musk's behavior on webcast”

Shares of Tesla Motors tumbled Friday as a pair of executive departures raised fresh concerns for the electric automaker already in turmoil over the erratic behavior of its mercurial chief executive Elon Musk.

"I want to be clear that I believe strongly in Tesla, its mission, and its future prospects, and I have no disagreements with Tesla's leadership or its financial reporting", he added. 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.

On Friday morning, Tesla announced that Dave Morton, its chief accounting officer, had tendered his resignation on Tuesday - less than a month after he had joined the company.

Toward the end of the more than two-hour interview that was live-streamed on YouTube, Mr. Rogan pulled out a joint that he described as marijuana wrapped inside tobacco. Marijuana is legal in California, where the interview took place. Tesla shares went on another rollercoaster day of trading.

Musk touched on the difficulties of having the kind of brain that has enabled him to build and run multiple high-tech companies at the same time.

Musk did not directly address the suit during the Rogan sit-down. "The ongoing, effectively self-inflicted public relations crisis is now affecting key personnel within the organization" and distracting the market from fundamentals that have been improving, he said.

Musk caused jitters for shareholders last month when he announced, out of the blue, that he was planning to make the company private, before backtracking and saying it would remain public. Musk eventually abandoned his plan to go private on August 25 after CNBC reported Morgan Stanley was planning to be retained to seek financing for a transaction, suggesting funding for a deal hadn't been secured. "Especially auto companies", Musk said.

The podcast episode arrived at a tumultuous moment for Tesla and Musk.

Musk in recent days also renewed a feud with a British cave diver, Vernon Unsworth, who was involved in the rescue of 12 boys trapped in an underwater cave in Thailand this summer, according to the BBC.

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.

San Francisco - Tesla founder Elon Musk sipped whiskey and puffed a little weed while musing at length about artificial intelligence, colonizing space, and the need to give love a chance.

He also told the newspaper he works "120-hour weeks" and takes sedatives.

Shares of electric vehicle pioneer Tesla Inc.



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