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Tesla accounting chief quits over Tesla’s "level of public attention"
08 September 2018, 01:49 | Antoinette Holland
Credit You Tube PowerfulJRE
Elon Musk is stumbling from one controversy to another.
Morton, a former chief financial officer for computer-drive maker Seagate Technology Plc, joined Tesla one day before Musk tweeted that he was considering buying out some investors at $420 a share and taking the company private.
Tesla's stock was down over 7% on Friday after news that two executives were leaving and after CEO Elon Musk was filmed smoking a spliff - weed mixed with tobacco - during a live interview on Thursday. I think Joe might, however, be right about the stockholders.
Separately, human resources chief Gabrielle Toledano told Bloomberg she planned to exit the company, not returning from a leave of absence.
Musk smoked marijuana with comedian Joe Rogan at the end of a two-and-half-hour interview on the "The Joe Rogan Experience", which featured a wide-ranging discussion on topics including artificial intelligence, the Tesla chief executive's technological ambitions and personal hardship.
Musk explained that he's "not a regular smoker of weed" because he "doesn't find it's very good for productivity".
Tesla's $1.8 billion junk bond maturing in August 2025 plunged as much as 4 cents on the dollar to below 82 cents, a record low, in Friday trading, pushing the yield above 8.8 percent.
His brother Kimbal Musk told the newspaper that the reason Mr Musk "seems to attract drama" is because he is "so transparent, so open, in a way that can come back to bite him".
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We got to see just that, a spike and a drop in just a few days, all from the possibly illegal Elon Musk Tweet that was posted exactly a month ago today. The entry of additional competitors and Tesla's failure to meet its goals are "certainly enough to cause investors to second-guess the company", he said. The about-face attracted attention from the U.S. Securities and Exchange Commission, which reportedly launched an investigation into Tesla for possible stock manipulation.
"Probably spend more time with your friends and less time on social media", Musk said.
After rising as high as $387, shares of Tesla have now fallen 32% to $261. Morton claimed he couldn't keep up with the company's jarring path.
This recent public display comes amid concerns about Musk's leadership qualities, and is bound to fuel further questions about his mental fitness.
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