KoGuan Leo, an Indonesian billionaire and the third-largest individual shareholder of Tesla, is calling for the electric carmaker’s CEO, Elon Musk, to step down as much of his attention is focused on Twitter lately.
“Elon abandoned Tesla and Tesla has no working CEO,” Leo tweeted on Dec. 14. “Tesla needs and deserves to have working full-time CEO.”
The above bolded portion is a little strong but valid point that Musk is distracted by Twitter.
“Tesla is 19 years old, ranked 4th with 2.4 percent allocation in S&P,” he said in another tweet. “Elon was the proud father, Tesla has grown up. An executioner, Tim Cook-like is needed, not Elon.”
A good suggestion.
Another good suggestion by KoGuan Leo is:
At this price level a stock buy back would certainly improve the pricing of the stock. And shouldn’t stock buy backs occur when a stock is on sale?
I’ve been saying this for a long time. Just look at the posts from 3 or 4 years ago. Oh… …
Tesla needs a better business leader at the top of the company. But Musk should stay on as something like chief innovator or some similar role. Keep coming up with the new ideas, but let others take over the boring, day to day stuff.
The stock is on sale. It’s down by half, that’s a sale by most measures. Yes, the P/E is still quite high, but that may not be the right measure for a company which is growing.
Growing how fast? We don’t know at the moment; there are “incentives” to move the metal now in China along with factory shutdown for a couple weeks, and similar rumors and initiatives here as well.
But I doubt anyone at Tesla wants to say anything for fear of saying the wrong thing and getting fired, and the guy who could say something won’t say something because he has a new toy he’s in the process of taking apart to see how it works.