Drew Baglino, a longtime Tesla executive, announced his resignation and sold $181.5 million worth of Tesla shares just ten days after his departure. Baglino, who joined Tesla in 2006, was the Senior Vice President of Powertrain and Energy Engineering. His departure, along with the resignations of VP of Investor Relations Martin Viecha and Public Policy VP Rohan Patel, signals a significant shift in Tesla’s strategy. Despite the company’s focus on realizing a “robotaxi” or “Cybercab”, investors are seemingly unimpressed with the plans. Tesla’s stock has dropped around 40 percent this year, and analysts fear the worst is still to come.
Read more at: futurism.com