Getty Images
Tesla sank more than 7% in early trading Friday, to $260 per share, after the electric-car maker revealed that its chief accountant, Dave Morton, resigned on September 4.
“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 at the time in comments revealed in the regulatory filing Friday.
“As a result, this caused me to reconsider my future. 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.”
Morton took over the role in August 2018 after the former chief accountant, Eric Branderiz, left the post after nearly two years.His resignation comes in the wake of departures by other Tesla executives including chief engineer Doug Field and top sales executive Ganesh Srivats who both resigned in July. In May, two executives, a VP and a product director departed Tesla’s energy unit.
Tesla’s chief people officer, Gaby Toledano, also took a leave of absence in August and will not be returning, Bloomberg reported Friday.
Morton — who did not respond to a request for comment — joined Tesla last month from Seagate Technology where he served as a VP for two decades and CFO for almost three years. His first day, August 6, was two days before CEO Elon Musk’s now-infamous tweet about taking Tesla private that has ended in lawsuits and investigations by federal regulators.
Now, with the company set on staying public, its finances are under extreme scrutiny from investors and analysts as it fights to become profitable. After rising as high as $387, shares of Tesla have now fallen 32% to $261.
Now read:
from Viral Trendy Update https://ift.tt/2wP3qMx
via IFTTT
0 Comments