Another high-profile Tesla executive departs
FBN's Charles Payne on Tesla CEO Elon Musk increasing his stake in the company to almost 20%.
Tesla CEO Elon Musk, told its employees that the company will restructure and flatten its management, the Wall Street Journal reports, following the departure of some high-profile executives.
This comes shortly after Matthew Schwall, who had been the director of field performance engineering at Tesla, announced his departure from the company to join rival Waymo.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 339.64 | -2.39 | -0.70% |
Schwall was Tesla’s main technical contact with U.S. safety investigators. The National Transportation Safety Board is investigating multiple crashes involving Tesla vehicles.
Recently, Tesla's senior vice president of engineering, Doug Field, said he would step away from the company to spend more time with his family.
Tesla has struggled to ramp up its Model 3 output for months, with the company now saying it will reach its Model 3 production goal of 5,000 a week by the end of the second quarter.
Tesla hadn’t responded to FOX Business’ request for comment by the time this article went to publish.