KXIP vs KKR Live Score

Tesla (TSLA)'s now former chief accounting officer, Dave Morton, quit the company after concluding CEO Elon Musk wasn't interested in accounting details around a potential take-private transaction, according to people familiar with the matter.

Tesla announced Toledano joined Tesla in May 2017 as chief people officer.

Late on Thursday, Musk was filmed drinking whiskey, briefly smoking marijuana and wielding a Samurai sword during a 2-1/2-hour live Web show with comedian Joe Rogan that swiftly spread across social media.

During their conversation, Mr Musk talked about his health and his management of Tesla - which he said was the most challenging of his various businesses and projects. Tesla shares, down just 1 percent after Musk's appearance on the Rogan podcast overnight, fell as much as 10 percent after Morton's resignation and were still down 5.1 percent at $266.75 in late morning trading. Investors who have bet that Tesla's stock price will fall, or "short sellers", also have filed a lawsuit against Tesla and Musk alleging that the take-private proposal was a ruse aimed at lowering the value of their holdings. As noted, Musk once tweeted that he was considering selling shares of his company for $420.

"I'm not a regular smoker of weed", Musk said.

Later he says he does not notice any effect from the joint and claims he rarely smokes.

The day after he started, Musk tweeted he was considering taking the company private with "funding secured". "I want to be clear that I believe strongly in Tesla, its mission, and its future prospects, and I have no disagreements with Tesla's leadership or its financial reporting", Morton was quoted as saying. Analysts on Friday reiterated their call for Tesla to bring in another senior leader to provide more support as it strives to expand production and potentially raise more capital.

"We have been calling for a Co-CEO or COO to assist to codifying the leadership structure and in so doing, the culture at Tesla". Tesla's stock plunged, then extended declines after Gabrielle Toledano, the head of human resources who's been on a leave of absence, told Bloomberg News that she won't rejoin the company.

Tesla said cash from Model 3 sales will pay the bills and drive profits.


COMMENTS