Tesla rocked by executive departures, Elon Musk's web show


After Rogan confirmed that the product was indeed legal to consume in California, Musk reached for the blunt and took a puff.

The executive changes capped a chaotic week for Tesla in which Musk lost his chief accounting officer after less than a month on the job, then smoked marijuana during a late-night taping of a podcast hosted by a California comedian.

"I'm not a regular smoker of weed", Mr Musk said.

Fox Business Network's Charlie Gasparino tweeted Friday that the Air Force "is looking into Elon Musk's pot-smoking", which is prohibited by anyone who has a government security clearance.

In an interview with The New York Times while the gambit was still in play, Musk didn't deny a connection.

"At times, Musk appears to be working against himself", analyst Munster wrote.

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San Francisco: Elon Musk made a series of internal promotions to rebuild Tesla Inc.'s senior management team and downplayed media coverage of the electric-car maker, assuring employees that production and deliveries are set to surge.

"Since I joined Tesla on August 6th, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations", Morton said in a statement released by Tesla.

Back in April 2016, Air Force awarded Musk's company with almost $83 million to launch a GPS III satellite, and extended contracts in the following years.

Musk has never been shy about public exposure.

Especially freaky moments involving the Tesla chief of late include disparaging remarks about Vernon Unsworth, a Briton who helped save boys trapped in a Thai cave and the abrupt shutdown of Wall Street analyst's questions during a contentious earnings conference call. "You probably can't because of stockholders, right?"

They started down that rabbit-hole with a discussion on the dangers of social media, where Musk expressed that platforms like Instagram reflect only the best facets of the human experience.

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Musk's irreverent behavior has been seen by many of his followers as refreshing.

The Tesla board needs to act quickly to get a handle on the situation, said Betsy Atkins, a director at companies including Volvo Cars and Wynn Resorts Ltd.

The company's stock was down 0.7 percent to $278.87 in pre-market trading. Tesla shares, down just 1 per cent after Musk's appearance on the Rogan podcast overnight, fell another 7 per cent after Morton's resignation to $262.54. At the same time, its high-yield bonds tumbled to record lows.

Another of Tesla's top executives Sarah O'Brien, VP of Communications, spent her last day at the Tesla HQ offices today in a planned departure. That gives the CEO credibility on what matters most to many investors: his promise of profits for the second half of 2019 after years of heavy losses. Musk has served both roles since October 2008, and shareholders rejected a proposal calling for an independent chairman earlier this year.

Meanwhile, Tigress Financial Partners analyst Ivan Feinseth told Reuters that Musk "should not tweet about things outside of vehicle production and the auto industry".

The attention intensified overnight after his interview with Rogan, where the repartee included an exchange over what Musk was smoking.

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