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

Marion JacobsSep 08, 2018

Chief accounting officer Dave Morton announced in a filing Friday that he had left the company this past Tuesday after only a month on the job. Tesla announced several promotions, including a replacement for O'Brien, in a blog post on Friday, but did not name a new chief accounting officer.

In the latest in a string of recent out-of-character behavior, founder of billion dollar company Tesla, Elon Musk smoked weed during a live taping of a podcast. Morton said in the filing "the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations". Morton, who left his role as Seagate (STX)'s CFO to join Tesla, was not flustered by the tweet and met with Musk to go over various details that would make a take-private hard.

"I'm not a regular smoker of weed", Musk, 47, said on the podcast before taking a puff from a joint Rogan said contained tobacco and weed, which is legal in California where the two conducted the interview.

"Defendant Musk artificially manipulated the price of Tesla securities with objectively false tweets in order to "burn" the company's short-sellers", Left said, stressing that Musk's actions violated federal securities laws. Rogan asked Musk, as he offered him the joint. "I don't actually notice any effect". Musk has said he stands by his initial tweet about the company going private. "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".

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Analysts on Friday reiterated their call for Tesla to bring in another senior leader.

Shares of electric auto maker Tesla Inc. tumbled about 7% as the markets opened Friday after the CEO appeared to smoke marijuana during an interview and the company's accounting chief left after a month on the job.

"We have been calling for a Co-CEO or COO to assist to codifying the leadership structure and in so doing, the culture at Tesla".

"We think this is further evidence that the time is now for management and the board to address these issues". Tesla's stock plunged, then extended declines after Gabrielle Toledano, the head of human resources who's been on a leave of absence, told Bloomberg News that she won't rejoin the company.

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