Exclusive: Tesla Investor Calls for Board To Oust Elon Musk as CEO [View all]
Source: Newsweek
Published Mar 22, 2025 at 6:00 AM EDT | Updated Mar 22, 2025 at 3:33 PM EDT
A major Tesla investor has called on the company's board to oust Elon Musk as CEO in an interview with Newsweek. Newsweek has reached out the auto manufacturer for comment via email.
Why It Matters
Musk, the world's richest person, has taken on a visible role in President Donald Trump's second administration, leading the Department of Government Efficiency (DOGE). But his political involvement has caused concern for investors and Tesla's stock has floundered throughout 2025. Tesla shares have dropped 37 percent so far in 2025 as Musk has faced criticism and protests for some of his political remarks and actions. There have been a growing number of reports in recent weeks about vandalism toward Tesla vehicles.
What To Know
Tesla investor Ross Gerber, the CEO of Gerber Kawasaki Wealth and Investment Management, told Newsweek it's time for the Tesla board to remove Musk as CEO in a phone interview Thursday evening. Gerber owns more than 250,000 shares of Tesla stock, which was valued at $248.71 per share at close on Friday. When asked if Musk should be removed as the CEO of the leading electric car manufacturer, Geber responded "absolutely," adding that the board should not have even let him purchase Twitter, now X, without appointing another person to lead Tesla.
"Why has the board of directors sat quietly while so much brand value has been eroded to the point that cars are being set on fire?" he said. "It's been wildly negligent that the board has done nothing to curb Elon's behavior, especially around extremist statements." Still, he cast doubt that Musk would be removed by the board, which he says "solely functions at the benefit of Elon" and has been "highly compensated" by Musk. "They're not going to do anything he doesn't say," Gerber said.
Read more: https://www.newsweek.com/tesla-investor-calls-board-oust-elon-musk-2048755
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