Tesla CFO Leaves

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Yesterday, Tesla announced the departure of CFO Jason Wheeler. Wheeler has been with the company for roughly 2 years now and is set to pursue a profession in the public policy area. In place of him, former CFO Deepak Ahuja will be returning.

From an investor’s perspective, I think replacing Wheeler with Ahuja is not only a smart decision, but also a safe one. Since Ahuja has been with the company for seven years, it will allow him to fit right back in and get to work. There will be little to no training required and overall productivity should be alright. Additionally, running such a unique company requires a special person to be a part of it and why not re-hire the man who was a part of the company from the beginning before scouring the industry to fill in this important position.

That being said, Tesla still faces numerous safety and maintenance questions over driving all-electric cars. For most consumers, they prefer to stick to what they know and keep it that way. Consumers are resistant to change and are difficult to convince, especially when their lives could be at risk. The announcement of the Model 3 certainly caught the eyes of those wanting a more affordable price point to enter the market, but it will still take time for the all-electric auto industry to mature before any company can succeed.

In any event, I still have hope in CEO Elon Musk and moving his company forward. I see a lot of potential in this industry, and as someone who is constantly trying to be more eco-friendly, I am dying to buy myself an all-electric vehicle in the near future.

Article Source: Fortune

Image Source: Tesla

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