Musk to stay CEO through Model S launch

[doug]

Tesla's Musk to stay CEO through Model S launch | Small Business | Reuters (http://www.reuters.com/article/smallBusinessNews/idUSTRE5600HY20090701)


Musk, an entrepreneur whose ventures, in addition to Tesla, include space exploration company SpaceX and solar power company Solar City, said staying on as Tesla's CEO was a requirement for securing the company's recent 10 percent investment from Germany's Daimler AG.

"I didn't really have a choice. This was a requirement of Daimler that I remain CEO of Tesla through the Model S launch and then continue to be part of Tesla in a chairman role beyond that," Musk said in an interview.

"It's flattering, but at the same time it's golden handcuffs," he added.
Also picked up by ABG (http://www.autobloggreen.com/2009/07/01/elon-musk-daimlers-golden-handcuffs-mean-ill-stay-with-tesl/).

However, first commented on by Valleywag: Gawker - Tesla CEO: Daimler Won't Let You Fire Me - elon musk (http://gawker.com/5300213/tesla-ceo-daimler-wont-let-you-fire-me)

[Serge]

This is quite a commitment for Musk as well. The buck (profitable production of Model S in 2011) stops with him. Good luck and Godspeed!

[Kevin Harney]

This seems to imply that he no longer WANTS the job ....:confused:

[johnr]

My understanding is he never did want to be CEO - he would rather devote more time to new ventures ... but at this point he hasn't been able to find someone suitable to take on that position to his satisfaction, and during this critical time in the company's development he needs to keep a close eye on it.