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Tesla's annual turnover rate is as high as 27%. Will all senior executives be lost within four years?

2024-11-05 Update From: AutoBeta autobeta NAV: AutoBeta > News >

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According to foreign media reports, according to the latest report, the turnover rate of senior executives of Tesla, a US electric car maker, is higher than that of other US technology companies, and among those who report directly to Chief Executive Officer Musk, the turnover is even more serious.

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Tony Sacconaghi, an analyst at Bernstein, said that according to the study, Tesla had the highest turnover rate among executives who reported to chief executive Musk, with a turnover rate of 44 per cent, followed by Lyft with 22 per cent. The average senior turnover rate for other Silicon Valley companies is only 9%.

But it's worth noting that Lyft hired a lot of executives from Tesla last year, most notably, it hired Jon McNeil, the former president of Tesla, as chief operating officer, but Lyft recently announced that Jon McNeil would leave Lyft.

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Based on Bernstein's research, the turnover rate of Tesla's general manager position is also higher than that of its competitors. Tesla's executive turnover rate is about 27 per cent on an annual basis, significantly higher than the 15 per cent turnover rate of other companies, but this is normal.

Sacconaghi is worried that the high turnover rate will bring instability to the company and may also lead to concerns among other senior managers about the direction or timing of the company.

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In recent months, Tesla has lost a number of senior managers.

J.Eric Purcell, production director of the Tesla Fremont plant, announced that he would leave this month. Last month, JB Straubel, chief technology officer of Tesla's co-founder, said he would also leave. Jane Omec, vice president of Europe at Tesla, also chose to leave, while Peter Hordinger, vice president of production at the Tesla Fremont plant, chose to leave on June 26th.

Mr Sacconaghi said that at the current rate, all of the company's more than 150 executives would leave in less than four years.

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