Friday, August 23, 2019

Elon Musk Called To Step Down As Tesla CEO By Top Investor

A top investor in the electric car maker Tesla has stressed that Elon Musk should step down as CEO as his irresponsible tweets can do the company more harm than good.
Tesla

James Anderson from the UK-based investment management firm Ballie Gifford, which holds a 7.5 percent stake in Tesla, told a German magazine that he "does not think Elon needs to be CEO".

"His micro-management also includes the desire to speak to the stock market and the world in ways we do not necessarily consider helpful," Anderson, who knows Musk personally, told Germany's Manager magazine on Thursday.

His comments referred to Musk's fondness for controversial midnight tweets that has already forced him to step down as Tesla Chairman.

Musk reached a settlement with the US Securities and Exchange Commission (SEC) over his controversial Twitter activities in April, agreeing to have more specific oversight on his tweets about the company.

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