①Since October, several key executives have announced their departure from Tesla, while this Thursday Tesla is set to hold its highly anticipated Robotaxi event. ②According to some former Tesla employees, Musk's tough style has made employees overwhelmed. However, some people also say that Tesla's internal management is not interested in the departure of executives.
tesla will hold the highly anticipated Robotaxi conference on Thursday to announce its long-delayed self-driving rental cars. Tesla CEO Musk once predicted that this business could help increase Tesla's valuation from $750 billion to $5 trillion.
However, the big promises have raised doubts. What is more worrying is that since October, several Tesla executives have announced their departure, including four of Musk's direct subordinates.
Tesla's Director of Public Policy and Business Development, Jos Dings, announced on LinkedIn that he will resign on the 1st of October. Later on the 4th of October, Tesla's Model S and Model X Project Manager, David Zhang, announced that he had already left the company in July. On the 6th of October, Tesla's Global Head of Automation and Safety Policy, Marc Van Impe, also confirmed his departure.
According to three internal Tesla employees, at an employee meeting on 3rd October, Tesla's Chief Information Officer Nagesh Saldi announced that he will be leaving Tesla after 12 years of service.
On September 29th, Tesla's Automotive Project Manager Daniel Ho officially announced on LinkedIn that he has left Tesla and joined competitor Waymo as a project manager. In April this year, Musk had already hinted at Ho's departure.
Frequent executive departures undoubtedly raise significant doubts in the capital markets about whether Tesla's internal management is facing major issues. In the past year, Musk has dismissed eight employees who reported directly to him, which clearly is not a message that would please investors.
Musk's style is to blame.
According to some former employees, the departures of executives may be due to Musk's leadership style being too "hardcore." A former manager complained that Musk lays off employees or restructures every few years, starting everything from scratch, maintaining this pace undoubtedly exhausts people.
Another former senior employee stated that employees are increasingly losing faith in Musk's vision, especially after he acquired the social platform Twitter. Many people at Tesla are tired of their work being constantly interpreted.
However, some people also mentioned that there is little interest within Tesla in the departure of executives, as all current energy is focused on the Robotaxi project.
Self-driving taxis have become a key factor for investors to assess Tesla's future. Chief Investment Officer of Evolve ETFs, Elliot Johnson, pointed out that self-driving taxis have been the subject of various discussions, promotions, and expectations for some time, and Tesla now needs to deliver tangible results.
But he determines that this business is not expected to have a financial impact on Tesla in the next two years.
Editor/new