SHARES EXTEND LOSSES TO FALL 10%; BIGGEST LOSS IN 2 YEARS
come, easy go.
hours after Elon Musk appeared on a comedy podcast, where he
smoked pot, demonstrated his flamethrower and mused
philosophically, Tesla's chief accounting officer unexpectedly
gave notice he’s resigning just
one month into the job, citing the
level of scrutiny on the electric-car maker.
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," Dave Morton, former CFO for hard-drive
maker Seagate Technology said in a Tesla regulatory filing.
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
departure comes just months after the last Chief Accounting
Officer, Eric Branderiz, resigned from Tesla back in March of this
year. The company spent a couple of months looking to fill the
position, which they finally did in August of this year with
wait, there's more because not long after we reported that
Gabrielle Toledano, the company’s chief people officer, said she
was taking a leave of absence, she told Bloomberg News that she
won’t be rejoining the company.
stock plunged as much as 8.5% to $256 in pre-market trading, just
shy of the 2018 lows of $252 hit in early April.
5.3 percent bonds dropped 1.75 cents, sliding under 84 cents on
the dollar, a record low, according to Trace bond price data. That
gives the notes a yield of 8.4%.
reminder, Tesla has long struggled with high turnover among
its senior executive ranks, and its finance team in particular has
gone through significant tumult lately. In the first quarter of
this year, the company lost Morton’s predecessor, Eric
Branderiz, and Susan Repo, who was treasurer and vice
president of finance. CFO Deepak Ahuja retired in 2015,
only to return in 2017 after his successor, Jason Weeler, quit
after just 15 months.
doing midnight joints on live TV was not such a good idea.