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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Manufacturing & engineering

Tesla shakes up executive ranks as sales falter

Tesla Inc (NASDAQ:TSLA) has removed its vice president of manufacturing and operations, Omead Afshar, amid declining vehicle sales in major global markets and growing investor concerns over leadership stability.

Afshar, a long-time associate of Elon Musk, oversaw a senior team including Tesla’s heads of sales in North America and the Europe, Middle East and Africa region.

His departure, confirmed by several sources, follows a broader period of turbulence at the electric carmaker, which has seen its share price fall 19% so far this year.

The exit comes shortly after the resignation of Milan Kovac, who led Tesla’s humanoid robotics programme.

Both changes arrive as Tesla contends with weakening demand, particularly in Europe, where sales have fallen for five consecutive months.

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