Elon Muskthe subordinates of Tesla Inc. are used to chaos. This comes with working for a chief executive who sets specific goals and often abruptly changes direction – whose biographer describes his most intense moods as “demon mode”.
But even by Tesla standards, this year has been undisciplined. Its stock fell more than 40% amid falling sales, confusing product decisions and further price cuts. Its once-dominant position in China’s electric vehicle market is under threat. A visit by Indian Prime Minister Narendra Modi for an anticipated investment announcement was canceled at the last minute. Meanwhile, the board attempted to reinstate a $56 billion payment to Musk that a judge overturned in January, on the grounds that the directors had acted as “sleeping servants” of the CEO.
News Source : www.bloomberg.com
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