5 ms·

People come, people leave. Why is that a big news?

revel 3y ago
The CFO leaving is always a big deal. It can mean nothing but it can also mean a really spectacular blowup is about to take place.
- andreygrehov 3y ago
  It's always a big deal, but can also mean nothing? So, pure speculation?
  - cududa 3y ago
    The vast majority of the time it’s a big deal, which makes it newsworthy. As well, any well run company would announce at least a few quarters in advance that the CFO is leaving. They don’t abruptly quit or get fired after 13 years without something brewing
    - andreygrehov 3y ago
      With respect, I do not think this is a newsworthy case. > Mr. Kirkhorn will continue to serve Tesla through the end of the year to support a seamless transition. Absolutely zero things to discuss here.
      - projectazorian 3y ago
        This isn’t the own you think it is. C-level execs are often contractually obliged to serve out lengthy notice periods, a quarter and some change is nothing unusual.
      - whinenot 3y ago
        You must be new here. Many companies keep ex-C-levels nominally employed as 'consultants' so their stock can vest (which is typically the bulk of their compensation) and avoid any expensive/public lawsuits. It's paying them off to quietly go away without spending any cash.
    - Kranar 3y ago
      Actually the vast majority of the time it's not at all a big deal. The average tenure of a CFO among the S&P 500 is 3.5 years. It's really not a big deal.
    - concordDance 3y ago
      Care to make a wager?
  - asdfman123 3y ago
    Yes, this thread is obviously speculation. That's the purpose of it.
- Kranar 3y ago
  That seems like a contradiction. How can something always be a big deal if it can mean nothing?
  - deleted 3y ago
    [deleted]
  - nlowell 3y ago
    E.g. The fire alarm going off is always a big deal even if there is not always a fire.
    - Kranar 3y ago
      Interesting, almost every case I know of where a fire alarm has gone off, no one really cared. I even remember a fire alarm going off in an actual movie theater and no one budged. I'm going to maintain my position that a precondition for something always being a big deal is that it must always be meaningful. Fire alarms are sometimes a big deal, but sometimes they are just noise. I think the CFO of Tesla stepping down is also just noise as well, but you are welcome to think otherwise.
- conductr 3y ago
  13 years is a long tenure as CFO, on surface this means nothing.
  - mtmail 3y ago
    I think it's 13 years at Tesla, 4 years as CFO.
    - conductr 3y ago
      Got it. Still not a red flag though. CFO tenure is rather low. This thread points out more so how Musk has become a villain in the tech sphere and people are looking for reasons to vilify him and anything he’s associated with.
- wpietri 3y ago
  Exactly. Since CFOs are in charge of the numbers and can be legally on the hook for them [1], their departure always gets people to perk up a bit. Even if there isn't crime involved, when they guy who knows the financials best decides he'd rather be elsewhere, it can be a sign that there's a coming plateau or downturn. That's especially interesting in the case of Tesla, whose stock is down something like 40% from peak, and who is facing increasingly stiff competition from basically every automaker in the world. [1] e.g., "fraud by negligence": https://www.reuters.com/business/sec-charges-smart-window-maker-view-ex-cfo-over-accounting-fraud-2023-07-03/ https://www.reuters.com/business/sec-charges-smart-window-ma...
- panick21_ 3y ago
  That is just flat out factually wrong. CFO just like ever other position sometimes switch jobs.
nness 3y ago
For context, C-Suite roles rarely change without an announcement far in advance or a complete change of leadership. (I know nothing about Telsa's current affairs, but a CFO change this sudden without any other announcement is sure to cause investor concern and likely foreshadows some bigger press.)
- wonderwonder 3y ago
  Dude is sticking around for another 6 months, so is 6 months far enough in advance?
  - unforeseen9991 3y ago
    That doesn't mean anything at the C level, the 6 months isn't his choice. They almost always transition out unless there is reputational damage involved, it's written into their contracts.
  - elkos 3y ago
    Why 6 months looks to me like 3 months.

The CFO leaving is always a big deal. It can mean nothing but it can also mean a really spectacular blowup is about to take place.

andreygrehov 3y ago
It's always a big deal, but can also mean nothing? So, pure speculation?
- cududa 3y ago
  The vast majority of the time it’s a big deal, which makes it newsworthy. As well, any well run company would announce at least a few quarters in advance that the CFO is leaving. They don’t abruptly quit or get fired after 13 years without something brewing
  - andreygrehov 3y ago
    With respect, I do not think this is a newsworthy case. > Mr. Kirkhorn will continue to serve Tesla through the end of the year to support a seamless transition. Absolutely zero things to discuss here.
    - projectazorian 3y ago
      This isn’t the own you think it is. C-level execs are often contractually obliged to serve out lengthy notice periods, a quarter and some change is nothing unusual.
    - whinenot 3y ago
      You must be new here. Many companies keep ex-C-levels nominally employed as 'consultants' so their stock can vest (which is typically the bulk of their compensation) and avoid any expensive/public lawsuits. It's paying them off to quietly go away without spending any cash.
  - Kranar 3y ago
    Actually the vast majority of the time it's not at all a big deal. The average tenure of a CFO among the S&P 500 is 3.5 years. It's really not a big deal.
  - concordDance 3y ago
    Care to make a wager?
- asdfman123 3y ago
  Yes, this thread is obviously speculation. That's the purpose of it.
Kranar 3y ago
That seems like a contradiction. How can something always be a big deal if it can mean nothing?
- deleted 3y ago
  [deleted]
- nlowell 3y ago
  E.g. The fire alarm going off is always a big deal even if there is not always a fire.
  - Kranar 3y ago
    Interesting, almost every case I know of where a fire alarm has gone off, no one really cared. I even remember a fire alarm going off in an actual movie theater and no one budged. I'm going to maintain my position that a precondition for something always being a big deal is that it must always be meaningful. Fire alarms are sometimes a big deal, but sometimes they are just noise. I think the CFO of Tesla stepping down is also just noise as well, but you are welcome to think otherwise.
conductr 3y ago
13 years is a long tenure as CFO, on surface this means nothing.
- mtmail 3y ago
  I think it's 13 years at Tesla, 4 years as CFO.
  - conductr 3y ago
    Got it. Still not a red flag though. CFO tenure is rather low. This thread points out more so how Musk has become a villain in the tech sphere and people are looking for reasons to vilify him and anything he’s associated with.
wpietri 3y ago
Exactly. Since CFOs are in charge of the numbers and can be legally on the hook for them [1], their departure always gets people to perk up a bit. Even if there isn't crime involved, when they guy who knows the financials best decides he'd rather be elsewhere, it can be a sign that there's a coming plateau or downturn. That's especially interesting in the case of Tesla, whose stock is down something like 40% from peak, and who is facing increasingly stiff competition from basically every automaker in the world. [1] e.g., "fraud by negligence": https://www.reuters.com/business/sec-charges-smart-window-maker-view-ex-cfo-over-accounting-fraud-2023-07-03/ https://www.reuters.com/business/sec-charges-smart-window-ma...
panick21_ 3y ago
That is just flat out factually wrong. CFO just like ever other position sometimes switch jobs.

nness 3y ago

For context, C-Suite roles rarely change without an announcement far in advance or a complete change of leadership. (I know nothing about Telsa's current affairs, but a CFO change this sudden without any other announcement is sure to cause investor concern and likely foreshadows some bigger press.)

wonderwonder 3y ago
Dude is sticking around for another 6 months, so is 6 months far enough in advance?
- unforeseen9991 3y ago
  That doesn't mean anything at the C level, the 6 months isn't his choice. They almost always transition out unless there is reputational damage involved, it's written into their contracts.
- elkos 3y ago
  Why 6 months looks to me like 3 months.