5 ms·

Tesla Board Opened Search for a CEO to Succeed Elon Musk

49 points by jrpelkonen 1y ago

sidibe 1y ago
First thing a new sane CEO does is reset expectations so they're not blamed for not fulfilling all the fantasies Elon kept promising.
- l0ng1nu5 1y ago
  They can't do that or else the stock goes back to a sane p/e.
  - slantedview 1y ago
    If your options are a sane stock price or plummeting profits, a sane stock price may be the wiser choice.
  - lawn 1y ago
    It'll do that anyway, the question is when not if.
cebert 1y ago
https://archive.ph/fPyta https://archive.ph/fPyta
inverted_flag 1y ago
Before everyone gets excited: > The board narrowed its focus to a major search firm, according to the people familiar with the discussions. The current status of the succession planning couldn’t be determined. It is also unclear if Musk, himself a Tesla board member, was aware of the effort, or if his pledge to spend more time at Tesla has affected succession planning.
deleted 1y ago
[deleted]
NN88 1y ago
Took forever
- toomuchtodo 1y ago
  They have no choice at this point without facing consequences, including personal liability, for failing their fiduciary responsibility to shareholders. The brand, currently, is toxic based on consumer polling and sales numbers. Even replacing him may not be enough to recover, if he continues to benefit from ownership of shares.
beloch 1y ago
Given that Tesla was trying to set Musk's compensation at over 100 billion as of December[1], declaring their new CEO to be a rock and then not paying said rock would appear to be a solid interim strategy. [1]https://www.investopedia.com/elon-musks-multi-billion-dollar-pay-package-8757243 https://www.investopedia.com/elon-musks-multi-billion-dollar...
blindriver 1y ago
Who would have the nerve to try to replace Elon as CEO? I think that's there's no way to "win", and making enemies of Elon is a horrible idea. I think Tesla is ride-or-die with Elon. There's no one who is both smart enough and stupid enough to try to take that job.
- deleted 1y ago
  [deleted]
- arthurz 1y ago
  And Elon will still rule behind the shadow
- cynicalpeace 1y ago
  I agree, but there does need to be a successor in the coming years. Everyone ages. And often, the greatest leaders' biggest mistakes are not to pick and train a proper successor. Alexander the Great, Charlemagne, Abraham Lincoln are just a few examples.
mraniki 1y ago
Tesla board denies launching search for Musk's successor https://news.ycombinator.com/item?id=43854106 https://news.ycombinator.com/item?id=43854106
- CyberMacGyver 1y ago
  This would just confirm it further.
ulfw 1y ago
If anything it would be an utter bullshit CEO-in-name-only like the whatshername from XXX

49 points by jrpelkonen 1y ago

First thing a new sane CEO does is reset expectations so they're not blamed for not fulfilling all the fantasies Elon kept promising.

l0ng1nu5 1y ago
They can't do that or else the stock goes back to a sane p/e.
- slantedview 1y ago
  If your options are a sane stock price or plummeting profits, a sane stock price may be the wiser choice.
- lawn 1y ago
  It'll do that anyway, the question is when not if.

cebert 1y ago

https://archive.ph/fPyta https://archive.ph/fPyta

inverted_flag 1y ago

Before everyone gets excited: > The board narrowed its focus to a major search firm, according to the people familiar with the discussions. The current status of the succession planning couldn’t be determined. It is also unclear if Musk, himself a Tesla board member, was aware of the effort, or if his pledge to spend more time at Tesla has affected succession planning.

deleted 1y ago

[deleted]

NN88 1y ago

Took forever

toomuchtodo 1y ago
They have no choice at this point without facing consequences, including personal liability, for failing their fiduciary responsibility to shareholders. The brand, currently, is toxic based on consumer polling and sales numbers. Even replacing him may not be enough to recover, if he continues to benefit from ownership of shares.

beloch 1y ago

Given that Tesla was trying to set Musk's compensation at over 100 billion as of December[1], declaring their new CEO to be a rock and then not paying said rock would appear to be a solid interim strategy. [1]https://www.investopedia.com/elon-musks-multi-billion-dollar-pay-package-8757243 https://www.investopedia.com/elon-musks-multi-billion-dollar...

blindriver 1y ago

Who would have the nerve to try to replace Elon as CEO? I think that's there's no way to "win", and making enemies of Elon is a horrible idea. I think Tesla is ride-or-die with Elon. There's no one who is both smart enough and stupid enough to try to take that job.

deleted 1y ago
[deleted]
arthurz 1y ago
And Elon will still rule behind the shadow
cynicalpeace 1y ago
I agree, but there does need to be a successor in the coming years. Everyone ages. And often, the greatest leaders' biggest mistakes are not to pick and train a proper successor. Alexander the Great, Charlemagne, Abraham Lincoln are just a few examples.

mraniki 1y ago

Tesla board denies launching search for Musk's successor https://news.ycombinator.com/item?id=43854106 https://news.ycombinator.com/item?id=43854106

CyberMacGyver 1y ago
This would just confirm it further.

ulfw 1y ago

If anything it would be an utter bullshit CEO-in-name-only like the whatshername from XXX