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21st of October 2018

Automotive



Tesla loses another finance executive, reports say

SAN FRANCISCO -- Another high-ranking finance executive at Tesla Inc. is leaving the company, people familiar with the matter told Bloomberg. 

Justin McAnear, vice president of worldwide finance and operation, is parting ways with the electric-car maker, said the people, who requested anonymity because the information hadn’t been made public. McAnear confirmed his last day at Tesla will be Oct. 7 in a statement obtained by CNBC.

Tesla representatives didn’t respond to requests for comment on McAnear, who’s one of the highest-ranking executives under CFO Deepak Ahuja. The company’s finance team has been hit particularly hard amid a broader exodus of senior executives this year. Chief Accounting Officer Dave Morton tendered his resignation last week after less than a month, and his predecessor in that role left in March. Susan Repo, who had been corporate treasurer and vice president of finance, also left that month. 

The most recent executive exits at Tesla have coincided with questionable behavior by CEO Elon Musk that has raised questions about his leadership and ability to recruit and retain senior managers. His tweets last month claiming he had the funding secured to take the company private drew a subpoena from the U.S. Securities and Exchange Commission, which already had been scrutinizing his pronouncements regarding manufacturing goals and sales targets.

Baillie Gifford & Co., Tesla’s biggest shareholder after Musk, fielded an SEC inquiry as part of the agency’s information gathering process. The fund manager “most definitely didn’t have prior knowledge” of Musk’s efforts, James Anderson, a Baillie Gifford partner, said Wednesday in an email.

Judy Burns, an SEC spokeswoman, declined to comment.

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