Tesla Investor Doubles Down: Calls For Elon Musk’s Removal As CEO. Here's Why
Ross Gerber is intensifying his critique, accusing the Tesla board of being “wildly negligent” in failing to rein in Musk’s behaviour.
Tesla investor Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, has once again voiced his concerns over Elon Musk’s leadership at Tesla. In a recent interview with Newsweek, Gerber urged the company’s board to dismiss Musk, citing his controversial statements and divided attention as key reasons for the automaker’s struggles.
This is not the first time Gerber has taken aim at Musk. Back in December 2022, following Musk’s $44 billion acquisition of Twitter (now X), Gerber criticised the Tesla board for allowing the deal to happen, stating that Musk was “not suited” to run the social media platform. At the time, Tesla’s stock had plummeted more than 60 per cent since the beginning of the year, and Musk had offloaded a significant number of Tesla shares to fund the acquisition.
Tesla Board Accused Of Negligence
Gerber is now intensifying his critique, accusing the Tesla board of being “wildly negligent” in failing to rein in Musk’s behaviour. He claims that the board prioritises Musk’s interests over the company’s well-being, allowing his controversial actions and statements to damage Tesla’s brand.
“Why has the board of directors sat quietly while so much brand value has been eroded to the point that cars are being set on fire?” Gerber questioned. “It’s been wildly negligent that the board has done nothing to curb Elon’s behaviour, especially around extremist statements.”
Despite his criticisms, Gerber remains sceptical that the board will act against Musk, arguing that its members are “highly compensated” and operate for Musk’s benefit rather than Tesla’s shareholders.
A Call for New Leadership At Tesla
As a longtime Tesla investor holding over 250,000 shares, Gerber insists that the company needs a new CEO to refocus on its core business. He argues that Musk’s attention is stretched too thin between Tesla, X, and his other ventures, to the detriment of the automaker’s growth and stability.
“Musk only has 24 hours in a day,” Gerber pointed out, emphasising that his divided focus has weakened Tesla’s standing. He acknowledged the company’s strong product lineup but warned that leadership distractions could impact long-term success.
While Musk remains a visionary leader in the tech and automotive industries, growing discontent among Tesla investors like Gerber suggests that pressure on the board may continue to mount.
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