Will Tesla's (TSLA) Elon Musk Step Down Soon? - 'I Don't Want to be CEO of Anything'

August 5, 2021 11:52 AM EDT
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Over the past few months, Tesla (NASDAQ: TSLA) co-founder and CEO, Elon Musk, has expressed exasperation over his duties as the head of the company, and today Bernstein analyst Toni Sacconaghi is asking the question if he will still be CEO of the EV company in 1 or 2 years.

During the company’s latest quarterly earnings call, Musk stated that he would no longer participate in future calls. Recently on Twitter, the CEO responded to a question about a recent book release stating “I don’t want to be CEO of anything”.

Elon Musk said something similar last month in court.

Talking about being CEO of Tesla, he said: "I rather hate it and I would much prefer to spend my time on design and engineering." He also gave a reason for why he continues: "I have to or, frankly, Tesla is going to die."

Along with being the CEO of one of the biggest electric car companies in the world, Musk is also the founder of SpaceX, an American aerospace manufacturer, space transportation services and communications company. Beyond that, he has significant business interests in Neuralink and Boring Company.

While this is just low-level banter at this point, there is the possibility that Musk could follow in Amazon's CEO Jeff Bezos footsteps and move out of the CEO role into the Chairman role.

By Michael Elkins | Michael.Elkins@streetinsider.com

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