Tesla announced the unexpected resignation of its chief financial officer late on Wednesday, adding to an exodus that has brought wholesale turnover to the electric car maker’s senior management ranks.
The news came as the company released financial results that showed a brief respite from the intense financial pressures that have made it a favourite target of Wall Street’s short-sellers. After resolving early production problems for its make-or-break Model 3, it was able to generate enough cash by the end of last year to underpin its balance sheet and head off the threat from a looming $920m convertible bond repayment.
The news of Deepak Ahuja’s departure as CFO was let slip in an unusual coda on the company’s earnings call with analysts, however, rather than through a written statement. It brought an immediate 4 per cent slip in Tesla’s stock in after-market trading, to fall back below $300 each.