Tesla rocked by executive departures, Musk show

I have no disagreements with Tesla’s leadership or its financial reporting Dave Morton, Chief accounting officer, Tesla

bengaluru — Tesla shares fell nearly nine per cent on Friday as the resignation of its chief accounting officer after just a month at work spooked investors amid another social media storm around billionaire chief executive Elon Musk.

The company, hurt in the past month by Musk’s high-profile Uturn on a deal to take it private, said chief accounting officer Dave Morton had resigned, citing discomfort with the level of public attention and pace of work.

That followed a twitter storm overnight about Musk smoking and drinking in a 2-1/2-hour live web show with comedian Joe Rogan.

Bloomberg also reported Tesla’s chief people officer Gaby Toledano was to leave the company just over a year after joining.

Tesla was not immediately available for comment.

Some Wall Street analysts called again for the company to appoint another senior leader for the company to take the pressure off Musk, or rein in his control.

Tesla shares, down just one per cent after Musk’s appearance on the Rogan podcast, fell another seven per cent in the half hour after the Morton’s resignation. They were down eight per cent by 9.13ET.

“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,” the company quoted Morton as saying in a filing.