Tesla investor calls for Elon Musk to step down as boss

[Mr. Sparkle]

Source: Sky News

One of Tesla's earliest investors has told Sky News that Elon Musk should step aside as the carmaker's chief executive unless he gives up his new government job. Ross Gerber said in an interview with Sky's Business Live that the tycoon and adviser to Donald Trump had lost his focus given his widening interests and was now too "divisive".

He cited Musk's post-election role at the helm of the Trump administration's new Department of Government Efficiency (DOGE). It has attracted public anger, and protests, over planned swingeing cuts to federal government staff. Mr Gerber said: "I think Tesla needs a new CEO and I decided today I was going to start saying it and so this is the first show that I'm saying it on.

"It's time for somebody to run Tesla. The business has been neglected for too long. There are too many important things Tesla is doing, so either Elon should come back to Tesla and be the CEO of Tesla and give up his other jobs or he should focus on the government and keep doing what he is doing but find a suitable CEO of Tesla."

Mr Gerber told presenter Darren McCaffrey that the business was "absolutely" in crisis and the appointment was among several reasons he had sold off a substantial number of shares in recent months. A slump began shortly before Mr Trump took office, as the first salvoes of the president's trade war were being threatened. Tesla's market value has plunged by more than $800bn since December and it was a further 4% down in US trading on Tuesday.

Read more: https://news.sky.com/story/tesla-investor-calls-for-elon-musk-to-step-down-as-boss-13331499

[LizBeth]

1. Won't work. The name already trash. Should have said something with the Nazi salute.

[LymphocyteLover]

6. Good. I just want his wealth to be depleted as much as possible, which will diminish his overall

power in our govt

[cstanleytech]

2. Does Musk own the majority share of the company? If not part of his goal could be to lower the share price.

Then buy the majority at a cheaper rate and take it private.

[kysrsoze]

3. Skum only owns about 12%. They could have ousted him a long time ago, but his name used to be

magic for the company. It isn't any longer. This is a really wishy-washy request - choose one or the other. They should just force him out. His name is forever tarnished, and Tesla isn't far behind.

[groundloop]

4. I guess his $55 BILLION paycheck might be in jeopardy.

He should have been committed to a mental institution the first time he suggested such a ridiculous arrangement.

[defacto7]

5. I wonder what he'd demand for severance?

[Buddyzbuddy]

7. Pay him off with Cybertrucks.

[BeyondGeography]

8. As long as Elon has a financial interest in Tesla there is no repairing the damage

And even then the brand is stained forever.

[snot]

9. It does look like there might be a basis for a stockholder suit.

Musk may be a genius, but not even he can be capable of running his commercial empire while simultaneously overhauling the entire US government. There are conflicts of interest w.r.t. his companies' contracts with the government, on one hand, and with respect to how his own time and efforts are distributed, on the other -- he can't possibly serve two masters well at the same time but must either serve one at the expense of the other or serve neither well.

[Yavin4]

10. Gerber needs to be careful. His statement could be considered a terrorist threat.

He could be put on a plane to El Salvador.

[Figarosmom]

11. Off ramp?

[maxrandb]

12. Sorry Mr. Gerber

at this point, I think your only option is to dump your Tesla stock...at a discount!

Maybe urge other Tesla shareholders to do the same.

Better to take your lumps now. Once your brand goes full nazi, there is no coming back.

I'm sure you'll be fine. I mean, it's not like you're a 70 year old disabled veteran, surviving on Medicaid and Social Security, or a Middle Class Civil Servant that is now unemployed, fired via email with 15 minutes given to clean out their cubicle, right?

Hell, do you even know what a cubicle is?

[travelingthrulife]

13. Finally, Tesla pulls its head out of its ass.

THIS right here is privatization. Really poorly run companies.

[Prairie Gates]

14. They should actually sue...His antics are absolutely to blame and a breach of fiduciary responsibility

He's literally working a completely different job that is causing damage to the brand. It's completely bonkers.

[Hassin Bin Sober]

15. The problem is Tesla is still up from a year ago and up big from 5 years ago.

The bigger problem is without musk at the helm they lose the “meme stock” bump and go down to where they belong which, last I heard, is probably like $50 bucks. I think a lot of big investors know they are cooked without him. I think it has to go down to proper valuation before they toss him.

We traded ours for an Equinox EV in February and just took my buddy in Saturday to do the same. He is a former stockholder and was definitely going to upsize this year to a Model Y.

He texted yesterday on a road trip “this car is nicer than the Tesla” - I’ve been telling him.

The Tesla was a gimmick and ahead of its time but there is no reason at this point to own one. The Tesla was fast - too fast - but rode like a go cart.

I’m glad he traded. He parks his in our driveway when he travels. He has a long trip upcoming and I jokingly said he will have to buy a tarp to cover the thing. Now it’s no joke.