Another top finance executive exits Tesla
Another high-ranking finance executive at Tesla Inc. is leaving the company, according to people familiar with the matter.
Justin McAnear, vice-president of worldwide finance and operation, is parting ways with the electric-car maker, said the people, who requested anonymity because the information hadn’t been made public. McAnear is one of the highest-ranking executives in the department overseen by chief financial officer Deepak Ahuja.
Tesla representatives didn’t respond to requests for comment, and McAnear couldn’t be reached for comment. The firm’s finance department has been hit particularly hard amid a broader exodus of senior executives this year. Chief accounting officer Dave Morton tendered his resignation last week after less than a month, and his predecessor left in March. Susan Repo, who had been corporate treasurer and vice-president of finance, also left that month.
The most recent exits at Tesla have coincided with questionable behaviour by chief executive Elon Musk, raising questions about his leadership and the company’s ability to recruit and retain senior managers. The shares slumped last week to their lowest close in more than five months, battered by the departures of Morton and chief people officer Gabrielle Toledano, plus Musk’s decision to smoke marijuana on a comedian’s podcast.
One of Tesla’s biggest bulls on Wall Street cut his rating on the carmaker this week, calling it “no longer investable” because of Musk’s antics.
“They’ve lost a tremendous number of executives over the last couple of months,” Romit Shah at Nomura Instinet said Tuesday. “That, coupled with this erratic behaviour I think is giving the market the strong impression that there’s instability inside of Tesla.”