Tesla has been served yet another hit to add to its recent string of very bad luck. It would seem that the companies new accounting officer resigned on Friday, after only one month on the job. Hours after CEO Elon Musk was reported to have smoke marijuana on a live webcast, a second senior executive was reported to have left as well.
What this all totaled up to was a massive nine percent drop in the companies shares. The largest drop in shares in almost two years.
The company is still recovering from the damage it received when Musk made a very high-profile flip last month on a deal he said he was working to take Tesla private. Due to the flip-flop, CAO Dave Morton ended up resigning due to discomfort with the public attention and pace.
Morton’s departure could not have been at a worse time, as Tesla may very well be facing a formal investigation by the Securities and Exchange Commission—aimed at Musks sudden change of mind in going private. Morton is one of many to have left the fledgling carmaker, as the company continues to expand production output, deal with operation problems, and try as it might at turning a profit.
Morton stated his reason for resigning was:
“Since 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. As a result, this caused me to reconsider my future.”
From the outside looking in, it would seem that Musk takes a lot for granted, as well as takes a lot of risks considering the dire state his company is currently in. There are so many rumors about the companies status that the future of Tesla is hanging in the balance.
If the leadership, as well as Musk, doesn’t come up with a plan, and soon, Tesla may end up being only a notation in the history books, as the carmaker will not be able to continue.