Just over a year ago, Elon Musk appeared at Tesla’s investor day in Texas alongside 16 executives who delivered detailed presentations on the company’s technology and growth strategies. They stood in unity behind Musk, who, addressing investor concerns about Tesla’s dependence on him, remarked, “We’ve obviously got significant bench strength here.”
Now, a Reuters analysis reveals that at least five members of that executive team have departed. Neither Tesla, Musk, nor the 16 executives from the previous year’s event could be reached for comment.
In a recent email to senior managers, Musk outlined plans for further layoffs, including the departure of two top executives, as reported by The Information. “Hopefully these actions are making it clear that we need to be absolutely hard core about headcount and cost reduction,” Musk wrote in the email.
Among those who have left are two senior executives who stood beside Musk at the investor day: Zach Kirkhorn, former CFO, who resigned with a nondisclosure agreement, and Drew Baglino, former chief battery engineer, who departed in a recent wave of layoffs initiated by Musk. Baglino sold $181 million in Tesla stock upon his departure.
Rebecca Tinucci, who led Tesla’s charging team and was one of two women on stage during the investor day, was also let go along with much of her team. Tinucci emphasized the importance of a seamless charging experience for electric vehicle adoption during her presentation.
Colin Campbell, the former vice president of powertrain engineering, was another executive who left after appearing on stage.
The significant turnover in executives is raising concerns about Tesla’s leadership style, with corporate governance expert Charles Elson noting, “Lots of departures very quickly suggest a problematic leadership style.”
Despite the executive churn, some investors prioritize Elon Musk’s continued presence at the company. Gene Munster of Deepwater Asset Management stated, “Elon’s not there and we have this turnover? That’s very bad.”
Musk has signaled strategic shifts in response to challenges such as falling sales and increased competition. He emphasized Tesla’s future in artificial intelligence and robotaxis, leading to changes in staffing and plans for vehicle production.
Several other senior executives, not part of the previous year’s investor day, have also departed in recent weeks, indicating further upheaval within the company.
