Sat. Aug 24th, 2019

Tesla is losing another top executive amid a brutal week for the electric automaker (TSLA)

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Tesla is losing another top executive amid a brutal week for the electric automaker (TSLA)

elon musk hands up

  • Tesla is losing another top executive, this time in the communications department. The senior director of communications Dave Arnold is leaving the company.
  • Arnold served the electric-car company for two years. He follows a long line of Tesla executives who have parted ways with the company in the past year.
  • “We’d like to thank Dave for his work in support of Tesla’s mission, and we wish him well,” a Tesla spokesperson said in a statement to Business Insider on Wednesday. Arnold will remain at the company for another month while Keely Sulprizio, the director of global communications, takes over his duties.
  • Visit Business Insider’s homepage for more stories.

Tesla’s senior director of communications Dave Arnold is leaving the company. Arnold served the electric automaker for two years.

“We’d like to thank Dave for his work in support of Tesla’s mission, and we wish him well,” a Tesla spokesperson said in a statement to Business Insider on Wednesday. Arnold will spend another month at the company, while Keely Sulprizio, the director of global communications, takes over his duties.

Arnold follows a long procession of Tesla executives who have left the company in the past year.

Tesla lost its CFO, Deepak Ahuja, in January. Its general counsel, Dane Butswinkas, left in February after just two months on the job.

The high rate of turnover in Tesla’s executive ranks is just one of a number of challenges the company is staring down at the moment.

Read more: It’s time for Tesla to go into stealth mode for the rest of 2019

Ongoing production challenges and difficulty shipping its Tesla Model 3 to international markets have weighed heavily on the company’s share price. A Tesla analyst at Evercore ISI slashed his target price for Tesla shares to $200 — down from $240 per share — for the second time in a month. On Monday, Tesla shares hit their lowest point since January 2017.

Dustups between CEO Elon Musk and US federal regulators have also rattled investors.

More recently, Tesla’s disappointing first-quarter earnings report did the company no favors with a $702 million loss on the books for the three-month period that ended March 31.

Despite the turmoil, Tesla has been able to count some victories. The company recently boosted the size of its latest capital raise from $2.3 billion to $2.7 billion, and AutoTrader named Tesla the most-loved car brand this week.

SEE ALSO: Tesla’s senior director of communications is leaving the company — here are all the key names who have departed in recent months

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