Mar 08, 2017 08:23 PM EST

The Reason Behind Tesla’s Fast Executive Turnover; Pressure Builds Too Much In The Company?

Tesla Inc. is up on its game as it is working hard for the upcoming release of Model 3, its most critical electric sedan. But it seems like the pressure is building up too much for the company’s staff, resulting in a fast executive turnover.

Tesla Inc. insists that the production of the Model 3 is still on track to start in July. It will even double up its production as fast as it can. Green Car Reports reports that Tesla Inc.’s Chief Executive Officer Elon Musk hopes to build 5,000 cars each week by the end of the year. Musk even set a goal of producing 500,000 cars by the end of 2018.

However, given the company’s ambitious goals, the pressure is taking its toll on Tesla’s staff. According to Bloomberg, Tesla is losing some key personnel, especially now that it is a critical time for the company. The automaker company is in its race to bring Model 3 in the market later this year.

The latest and most high-profile impending departure is that of Chief Financial Officer Jason Wheeler. Musk announces it during the company’s fourth-quarter earnings call. It was in November 2015 that Tesla made Wheeler as their CFO. He spent 15 years at Google before joining Tesla.

Business Insider reports that Wheeler will be leaving the carmaker company in April in order to pursue opportunities in public office. "I'm looking to scratch an itch that I had for many, many years now,” said Wheeler. "I will go do something in the public sector, but I wouldn't have felt comfortable about leaving if we didn't have a really good plug-and-play solution in place for the company."

Once Wheeler steps down, Deepak Ahuja will replace him as the new CFO. Ahuja left Tesla in 2015. This month, Ahuja will already be working with Wheeler to make sure that there will be a smooth transition.

Meanwhile, Jobs & Hire reported that Tesla failed to meet 2016 sales target. The company must ramp up production in order to meet the 400,000 reservations for its upcoming Model 3.

Watch the video below:

Get the Most Popular Jobs&Hire Stories in a Weekly Newsletter
© 2017 Jobs & Hire All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics