Hyperdrive

Tesla's Bombshell CFO Exit Spoils Pivot to More Sober Musk

Stock trades 2.8 percent lower after surprise announcement
Carmaker projects slower growth in deliveries for 2019

Zach Kirkhorn is about to take over as Tesla’s CFO.Source: Bloomberg)

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By Dana Hull

January 31, 2019 at 12:08 AM UTC

Updated on

January 31, 2019 at 2:32 PM UTC

This article is for subscribers only.

Elon Musk appeared to be putting the days of unpredictability in the rearview mirror. Then he spooked Tesla Inc. investors with another surprise executive exit.

The chief executive officer vowed on an earnings call to cut costs and manage Tesla’s cash as it enters a slower-growth period. Instead of madcap Musk, investors heard from a more measured CEO who had just missed analysts’ estimates for quarterly profit. He even made multiple mentions of the possibility there could be a recession.