Tesla's board needs to keep Elon Musk's buy in: Analyst

02/06/2024 10:18
Tesla's board needs to keep Elon Musk's buy in: Analyst

Oppenheimer Managing Director and Senior Research Analyst Colin Rusch joined Yahoo Finance Live to discuss Tesla's (TSLA) stock drop amid turmoil surrounding CEO Elon Musk's conduct and pay package. Rusch says he tries not to focus on the "noise about Elon's personal life," but instead on Tesla's technology performance and position. However, he notes higher inflation "coupled with" EV concerns has caused "natural growing pains" in a transitional space. While Musk brought "ambition and vision" to Tesla, Rusch says the company is attracting "top talent" to tackle complex engineering challenges. Though Musk does "set the agenda," Rusch emphasizes Tesla is not dependent on "a single person." When it comes to questions about the board's independence, Rusch says it's "hard to say" whether it's independent enough. Rusch argues that it's "critical" that the board keep Musk's "attention and buy in to the organization." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith

Oppenheimer Managing Director and Senior Research Analyst Colin Rusch joined Yahoo Finance Live to discuss Tesla's (TSLA) stock drop amid turmoil surrounding CEO Elon Musk's conduct and pay package.

Rusch says he tries not to focus on the "noise about Elon's personal life," but instead on Tesla's technology performance and position. However, he notes higher inflation "coupled with" EV concerns has caused "natural growing pains" in a transitional space.

While Musk brought "ambition and vision" to Tesla, Rusch says the company is attracting "top talent" to tackle complex engineering challenges. Though Musk does "set the agenda," Rusch emphasizes Tesla is not dependent on "a single person."

When it comes to questions about the board's independence, Rusch says it's "hard to say" whether it's independent enough. Rusch argues that it's "critical" that the board keep Musk's "attention and buy in to the organization."

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Angel Smith

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