Tesla's stock market value has been hammering down since December 2024. And now some investors have had enough. Step down, is the direct call to CEO Elon Musk.
Elon Musk, who has been at the helm of Tesla since 2008, should step down to let others take over.
That's according to investor Ross Gerber, who has previously supported Musk. Gerber is more clear than that, however. In an interview with Sky News , he says directly that a new CEO is needed.
– I think Tesla needs a new CEO.
– And I have decided that I will start saying it from today (Tuesday, ed.), so this is the first program where I say it.
Gerber's statement comes amid a bit of a storm for Tesla. Not only has the stock plummeted by half since December 2024, but sales figures at the brand's stores have also declined significantly.
Come back to Tesla or retire, Elon
For example, Tesla in Denmark had to note that February saw a decline of 58 percent, which is the most significant decline in the entire Nordic region.
However, criticism of Elon Musk has only increased. Musk has increasingly focused on his work in Donald Trump's administration, where he is involved in government budget cuts.
Ross Gerber believes that the billionaire is thereby shirking his responsibility towards Tesla. And he – that is, Musk – has been doing so ever since he bought the media outlet Twitter in 2022. A case that, incidentally, received almost as much media attention.
– It's time for someone to actually run Tesla. The business has been neglected for far too long. Tesla has far too many important things going on.
So either Elon should come back and be CEO of Tesla and drop his other projects.
– Or he should focus on government work, continue with it and find a suitable director for Tesla, says Greber.
According to Gerber, Musk's behavior on social media and his collaboration with Trump have had a negative impact on Tesla's reputation.
"The company's reputation has been completely destroyed by Elon Musk," he says. "Sales are plummeting, so yes, it's a crisis."
– You simply can't sell the best product on the market because the director is so divisive.
Although Ross Gerber has sold some of his Tesla shares, he still owns shares worth approximately DKK 720 million.
Elon Musk, as the largest shareholder, has shares worth approximately 850 billion kroner, but the value of these shares is falling. The South African billionaire, who is also the world's richest man, owns just over 13 percent of Tesla.
