Tesla’s third-largest individual shareholder, KoGuan Leo, has rounded on Elon Musk, calling for a new CEO to take over the EV maker, and accusing the nascent Twitter CEO of abandoning ship.
“Elon abandoned Tesla and Tesla has no working CEO. Tesla needs and deserves to have working full time CEO,” KoGuan Leo tweeted(Opens in a new window) on Wednesday.
The Indonesian investor has more than 22 million shares in Tesla, currently worth $3.57 billion, according to AutoBlog(Opens in a new window). In a series of tweets, KoGuan Leo said he would like to see an operational executive similar to Tim Cook take over the company.
“Elon is a mere hired hands. He is our employee… Elon was the proud father, Tesla has grown up… An executioner, Tim Cook-like is needed, not Elon,” Leo tweeted. “I plan to invest more $billion bc Tesla will be the biggest company with or without Elon.”
Leo is not selling his shares, however. He plans to buy more as he believes the stock is undervalued and there’s still possibility for growth with a more laser-focused CEO, Business Insider reports(Opens in a new window).
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Musk refuted allegations that he’s spending too little time on Tesla(Opens in a new window). “I literally just finished my meeting going over Giga Texas production progress,” he tweeted this week.
Still shares of Tesla are down 55%(Opens in a new window) this year, with Musk having sold(Opens in a new window) $22.9 billion worth of Tesla stock when he revealed his plans to buy Twitter in the spring.
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