Sign up USA
Proactive Investors - Run By Investors For Investors

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 --

View full TSLA profile View Profile

Tesla Inc Timeline

Related Articles

November 19 2017
When finalised, Iplayco will own the IP rights to the Play Mart and Play Planet brands, as well as the Play Planet line of business. .

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright ©, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use