An interesting report from China claims Elon Musk has agreed to step down as Tesla CEO and to promote Tom Zhu Xiaotong, the President of Tesla China, as his successor. The information has not been officially confirmed by Tesla.
Tesla critics have been offered plenty of ammunition lately after Elon Musk entangled himself in the Twitter deal. Micromanaging the social media platform and engaging in quarrels with people over mundane issues seem to keep Tesla’s CEO busy most of the time. Many investors claim that this has led him to lose sight of the company, while his erratic behavior has hurt Tesla’s business. Indeed, Tesla shares have slipped to a two-year low in the past weeks, fueled by Musk’s questionable tweets and stock sell-outs to finance his Twitter fantasy.
Read Article