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21st of November 2018

Technology



Tesla (TSLA) loses another top finance executive

Tesla’s Vice president of Worldwide Finance Justin McAnear announced his departure from the company just days after we learned that the automaker’s Chief Accounting Officer Dave Morton resigned for a strange reason.

The recent departures are resulting in an important leadership shake-up in Tesla’s finance department.

Morton was Tesla’s second CAO to leave this year and now McAnear becomes the third top-level Tesla finance executive to leave in a short period of time.

In a statement obtained by CNBC, McAnear explained that his departure has been planned for weeks as he accepted “a CFO role at another company”:

“Several weeks ago, I announced to my team that I would be leaving Tesla because I had the chance to take a CFO role at another company. I’ve truly loved my time at Tesla, and I have great respect for my colleagues and the work they do, but this was simply an opportunity I couldn’t pass up. I’ve been working with the team to ensure a smooth transition prior to my last day on October 7th, and a number of members of the team are stepping up to fill my role,”

The shake-ups in Tesla’s finance leadership come at a critical time for the company, which is trying to become profitable by the end of the year.

There has been a lot of focus on executive departures at Tesla, especially after the automaker announced that it is laying off about 9% of its workforce as it restructured the company in June.

But the automaker has also been hiring many new execs.

After announcing a flurry of new executive hires from Apple, Amazon, and more earlier this year, they announced a new head of Energy operations hired from Amazon and a new head of Tesla Europe coming from BMW a few weeks later.

Last week, Tesla also announced some management changes with several internal promotions.

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