According to the investor, the entrepreneur has grown too “divisive” and has lost focus as a result of his expanding interests.
According to a well-known Tesla investor, Elon Musk should resign as CEO unless he quits his position with the government. As a diversion from Tesla, Ross Gerber pointed to Musk’s position as head of the Trump administration’s Department of Government Efficiency (DOGE) in an interview with Sky News.
Because of his expanding interests, he feels the tycoon has lost focus and has become too “divisive.”
has a number of issues, such as a falling share price, dwindling sales, demonstrations, and vandalism.
“Today I made the decision to say that Tesla needs a new CEO, and this is the first broadcast on which I am saying it,” remarked Gerber to Darren McCaffrey on Sky’s Business Live.
“It’s time for somebody to run Tesla,” he continued, adding that the electric vehicle manufacturer had been neglected for far too long.
Either Elonzo returns to Tesla as chief executive officer renouncing all other positions or he focuses on the government and continues that line of work, all the while looking for a suitable COO for Tesla. In other words, it’s just too big at Tesla.
According to him, Tesla was “absolutely” in crisis, and he had sold off a significant portion of the company’s stock in recent months. Since December, Tesla’s market value has dropped by more than $800 billion, and on Tuesday, it saw a further 4% decline in US trading.
Musk claimed that although Tesla’s products were without a doubt the greatest, he only had twenty-four hours in a day and had overstretched his schedule since acquiring X in 2022.
Gerber went on to say that Musk’s interactions with Trump and social media posts have hurt Tesla’s reputation. Just now, Elon Musk ruined the company’s credibility. It’s a crisis, as seen by the falling sales. Because the CEO is so polarizing, you can’t even sell the best product in the market,” he continued.
In the midst of a larger tech selloff, the company’s stock dropped as analysts forecasted a decline in global demand for the EV manufacturer’s cars as well as public outrage to Musk’s political involvement.
The stock continued its downward trend from Monday, closing at $225.31, down 5.3% on March 18. The stock hit a record high in December and has since virtually halved.
