Sign up to receive 5 free days of our daily summary for tech news.

Tesla Finance VP Quits

For the second week in a row, one of a couple dozen vice presidents at Tesla is leaving the electric automaker. Adam Laponis, a VP of worldwide financial planning and analysis, is latest to go, said people familiar with the change. He was promoted to the role last fall after his predecessor departed the automaker.

Executive departures have gotten a lot of attention at Tesla over the past year. In the finance group, CFO Deepak Ahuja, who is broadly popular within the company, said in January he would depart sometime this year. Tesla’s chief accounting officer left last fall after several weeks on the job, and its treasurer also left last year. The exodus has extended into Tesla’s technical and other ranks. Last week an engineering VP of drivetrain systems, Michael Schwekutsch, departed the company. The heads of sales, retail, vehicle engineering, communications, security, legal, and recruiting also left in the past year. They were mostly replaced internally.

After hitting net income goals in 2018 amid increasing sales, Tesla has entered a period of slower customer demand. On Sunday night Tesla walked back a recently announced plan to shut down most of its retail stores in order to cut costs and lower car prices. The partial reversal of the move will have the effect of raising prices, the company said. The company also has undergone a series of layoffs.

0 Subscriber comments


Sign up for our weekly newsletter and 5 complimentary days of our daily tech news roundup.

Already a subscriber? Log in here