According to a report in The New York Times, electric car manufacturer Tesla is looking for a COO or other number 2 executives to work directly under Elon Musk following the concerns over his recent erratic behaviour.
Elon said the Times in an interview that the Tesla earlier approached Facebook’s Sheryl Sandberg about two years ago for the job, but says “there is no active search right now as far as I am aware.”
Board members are reportedly worried over Elon’s recent chaotic announcements on Twitter, in particular, from the spontaneous exploits of a plan to take Tesla private to the ugly public spats with analysts and cave divers.
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
The board is also angered and concerned with Musk’s heavy workload and use of sleeping pills (Ambien) and is seeking to help him take some pressure off with new hires.
“It is often a choice of no sleep or Ambien.” Musk tells the Times.
Musk admits working up to 120-hours in a week, sometimes working in the factory for continuous three or four days at a time. He blames short-selling investors for much of his stress and accusing them of desperately pushing a narrative that will destroy the company’s future. He admits taking Ambien to help him with his insomnia.
“It is often a choice of no sleep or Ambien”
While some board members doubt that Ambien is helping him to fuel late-night Twitter announcements. But Musk says that he has no plans to abandon Twitter, nor does he regrets any of his tweets.
The Times reported that NASDAQ paused trading 80 minutes after the tweet with Tesla’s shares up 7 per cent, and the stock finished the day with an 11 per cent gain.
However, the funding was not quite as secure as Musk announced. He says he was referring to a Saudi Arabian government investment, but sources report there was no hard commitment to provide the money.
SpaceX, Elon’s other company, was also apparently considered as a means to fund the privatization of Tesla.
The Securities Exchange Committee questioned Tesla the day after Elon’s tweet and has served the board and Musk with subpoenas as the investigations continue. Musk says he didn’t get any negative comments from the board.
“If you have anyone who can do a better job, please let me know,” Musk concludes in the interview. “They can have the job. Is there someone who can do the job better? They can have the reins right now.”
We all know that Elon is impulsive, but he is a leader. He cried on Live Television without hesitation and now he is willing to do almost anything to keep his company and dreams alive. What do you think of him? Tell us in comments.