It seems that everything is not so well over at Tesla, where the board members are searching for a COO or an executive to directly work under Musk, amid their growing concerns over CEO Elon Musk’s recent erratic behavior. Musk himself said in an interview that Sheryl Sandberg from Facebook had been approached for that position, about a couple of years back, but added that according to his knowledge, there was currently no active search for the same. However, the board members may disagree with that statement.
Everything was going well at the company, and then Musk spontaneously declared that he was taking the company private, while he also made some insensitive comments with regards to the cave divers who had rescued trapped kids in a Thailand cave. The board stated that they would hire a number two with their objective of taking some of the workload off Elon Musk. The CEO had stated that he was working up to 120 hours per week and that Ambien was helping him sleep, which investors claim is causing his late night sessions on Twitter. Musk’s tweet of taking Tesla private at $420, where he claimed that he had secured funding from the Saudi Arabian government, along with also privatizing SpaceX, led to the SEC questioning Tesla, while also serving subpoenas to both the board and Elon Musk. Musk though, stated that he stood by his tweet and that there was no negative response from the board. He also challenged the board to find someone better than him so that they can assume his position.
Meanwhile, there is also trouble at Tesla’s Fremont, California plant, where workers were sent home early from their shifts while they were putting together the Model 3 on the GA3 line. According to a worker, this was due to the factory missing internal targets, where instead of producing the required 300 cars per shift; the factory was only able to produce 211 cars on Wednesday. Through this, Tesla aims to assemble at least 5,000 model cars per week. However, this target of assembling 300 cars per shift was met only 3 or 4 times in the past 3 weeks. He even added that a letter by Musk where he mentioned a higher goal of reaching 6,000 vehicles per week was laughed at by the employees.