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Tesla to lose two of its directors. (image via Tesla Rati)
2 Tesla's Directors Selling the Company's Stock
This electronic car automotive company’s directors are selling the company’s stock. Last year in 2018, the company made trading plans. Hence, the directors are selling the company’s stock due to the trading last year.It is reported that Brad Buss and Antonio J. Gracias have sold Tesla’s stock since last year. However, this year, they sold more stocks more than last year. The two have actually decided to step down from the company since last year. It is reported that Buss stepped down from the board this past week, while Gracias plans to leave the board when his term ends in 2021.
There are a few possibilities for these 2 directors to leave Tesla. The first one is because the stock has been pressured by worries due to lower demand, regulatory scrutiny, hardcore cost-cutting and they felt the board has been behaving as if they work entirely for CEO Elon Musk. However, the two were not be able to reach in order to give comments about the possibilities of them leaving the automotive company. Buss couldn’t be reached; meanwhile Gracias did not answer the questions thrown at him about Tesla. Not only the two of them who cannot be called, but Tesla decided not to speak a word about the two’s departures.
Previously, Elon Musk has received a lot of people’s applause due to his revolution in changing how a car goes.
Source: https://www.businessinsider.sg/why-tesla-ceo-elon-musk-is-like-this-an-explainer-2019-6/?r=US&IR=T
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