While Tesla has been on the agenda recently with its production targets and autonomous driving technology, it also draws attention with important changes in its senior management team.
Management changes continue at Tesla
Tesla is facing a significant executive loss ahead of its big AI event. The company’s Chief Information Officer (CIO), Nagesh Saldi, has announced his departure. Saldi, who has been with Tesla since 2012 and was responsible for the development of new data centers, reportedly left to pursue other opportunities.
This departure adds to the management changes Tesla has experienced throughout the year. Earlier in the year, senior executives responsible for production, finance, product launches and other critical areas resigned. Tesla CEO Elon Musk had stated that there were layoffs and restructuring plans against economic uncertainties.
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The leadership changes come at a time when Tesla aims to ramp up production of new vehicles like the Cybertruck. It also has to contend with big automotive giants and new electric startups. It remains to be seen how these transitions will affect Tesla’s operations.
Analysts have different views on Tesla’s stock performance in 2024. Due to the intense demand for electric vehicles, the company is expected to continue to increase its revenues by around 40 percent annually. However, rising costs could put pressure on profit margins.
The general expectation is that Tesla shares will fall 8 percent next year as valuations normalize. However, it was stated that if the company reaches its production and delivery targets, the shares may perform better.
