- Tesla’s chief accountant resigned Tuesday, the company said Friday, after just one month on the job.
- The executive said intense focus on the company had led him to “reconsider” his future but that he had no qualms about Tesla or its financial reporting.
- Also on Friday, Bloomberg reported that Tesla’s human-resources chief, Gaby Toledano, would not return from a leave of absence that began in August.
- Tesla shares sank more than 10% in trading. Follow Tesla’s stock price in real time here.
Tesla sank more than 10% Friday, below $260 a share, after the electric-car maker revealed that its chief accountant, Dave Morton, had resigned Tuesday.
“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 comments revealed Friday in a regulatory filing.
“As a result, this caused me to reconsider my future. I want to be clear that I believe strongly in Tesla, its mission, and its future prospects, and I have no disagreements with Tesla’s leadership or its financial reporting.”
Morton took over the role in August after Eric Branderiz left the post after nearly two years. Morton’s resignation comes after departures by other Tesla executives including the company’s chief engineer Doug Field and top sales executive Ganesh Srivats, each of whom resigned in July. A vice president and a product director departed Tesla’s energy unit in May.
Also Friday, Bloomberg reported that Tesla’s chief people officer, Gaby Toledano, would not be returning from a leave of absence she took in August. She did not respond to a request for comment from Business Insider.
Morton — who did not respond to a request for comment — joined Tesla last month from Seagate Technology, where he served as a vice president for two decades and CFO for almost three years. His first day, August 6, was two days before CEO Elon Musk’s tweet about taking Tesla private that has ended in lawsuits and investigations by federal regulators.
Now, with the company set on staying public, its finances are under extreme scrutiny from investors and analysts as it fights to become profitable. After rising as high as $387, shares of Tesla have fallen 32% to $261.