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Another senior Tesla exec jumps ship, pushing shares lower

Treasurer Susan Repo joins ex-controller Eric Branderiz as latest departure from electric car maker
Tesla CEO Elon Musk
Musk faces shareholder vote next month on his equity package

Shares in Tesla (NASDAQ:TSLA) dipped Wednesday after reports emerged that the corporate treasurer of the electric car firm is the latest senior executive to join the lengthening list of management departures.

Susan Repo, formerly Tesla's corporate treasurer and vice-president of finance, has parted ways with co-founder and CEO Elon Musk to serve as chief financial officer at another firm, according to multiple US news reports.

In late afternoon trading in New York, Tesla shares were down about 5% to US$325.24.

Repo's departure comes on the heels of the exit of Eric Branderiz, Tesla’s former corporate controller, who left for personal reasons earlier this month, according to a regulatory filing with the Securities and Exchange Commission.

Adding to the pressure, CNBC reported Wednesday that some of Tesla's current and former employees have accused the electronic car maker of making a "surprisingly high ratio of flawed parts and vehicles".

READ: Tesla says chief accounting officer left the company for personal reasons

Musk faces a shareholder vote next month on an equity award valued at US$2.6bn aimed at keeping him with the company.

Repo and Branderiz’s exits follow a spate of high-level management departures including Jon McNeill, president of global sales and service; Diarmuid O’Connell, vice president of business development; and Kurt Kelty, director of battery technology.

The group’s chief financial officer Jason Wheeler also left last year.

-- updated with additional information --

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