Tesla’s (TSLA) Vice President of Finance and Business Operations, Sreela Venkataratnam, has stepped down after an impressive 11-year tenure with the company. Venkataratnam, who joined TSLA in 2013, revealed her plans to take a break from work after her exit from the company.
In a LinkedIn post, Venkataratnam described her tenure at Tesla as “extraordinary,” highlighting that the company’s market cap jumped from $4 billion to over $700 billion during her tenure. However, her decision to leave Tesla is driven by the company’s high-pressure work environment.
Tesla Faces Leadership Shuffle
Venkataratnam’s departure is the latest in a string of high-profile exits from Tesla’s leadership team. Other major exits include Drew Baglino, Senior VP of Powertrain and Electrical Engineering, and Rohan Patel, VP of Public Policy and Business Development, earlier in 2024.
The stepping down of key executives raises questions about Tesla’s ability to retain top talent. As the company continues to navigate a challenging market environment, the loss of experienced leadership may impact its future growth.
Is Tesla a Buy, Sell, or Hold?
It is worth mentioning that Tesla was down 5.7% in yesterday’s trading session. The downside can be attributed to the news that the NTSB (National Transportation Safety Board) has opened a probe into a Tesla electric Semi truck’s crash and fire incident on August 19.
Wall Street remains sidelined on TSLA. It has 10 Buys, 14 Holds, and seven Sell recommendations for a Hold consensus rating. The analysts’ average price target on Tesla stock of $211.46 implies 0.38% upside potential. Shares of the company have gained 21.3% in the past three months.
