Tesla loses 2 key finance execs ahead of Model 3 progress report


Two of Tesla16;s most senior financial executives have left the company in successive weeks as the electric car maker approaches the end of its first quarter and prepares to update investors and industry analysts on its ramping up production of the closely watched Model 3 sedan.

Bloomberg reports that Susan Repo, Tesla’s corporate treasurer and vice president of , has left the company to become chief financial officer at another company. Autoblog sent an email to seeking confirmation and comment. Her departure comes on the heels of the exit of Chief Accounting Officer Eric Branderiz, who left “for personal reasons,” said in a March 7 SEC filing.

The company is expected to production and delivery numbers in early April for the first quarter. Investors will be closely watching to see whether Tesla has hit its target of producing 2,500 3s per week, a target that has been delayed several times by CEO Elon Musk amid well-publicized “production hell” issues affecting output.

Tesla in its most recent letter to investors said it expects to begin generating positive quarterly income “at some point in 2018” on a sustained basis and said it expected to be producing 2,500 Model 3s per week by the end of March and 5,000 per week by the end of the second quarter. But it acknowledged difficulty in “forecasting specific production rates at specific points in time.” Delays in Model 3 deliveries have spurred frustrations among some reservation holders who have turned to alternatives like the Chevrolet Bolt.

Tesla shares were down nearly 2 percentage points in morning trading. The Street writes that “losing two people overseeing the finances of a money-losing electric car company that has a history of execution missteps, weeks removed from the end of the first quarter, is a big red flag. Buyer beware.”

In addition to the latest departures, Tesla lost its president of global sales and service, Jon McNeill, in February after he left to become chief operating officer at Lyft, according to Bloomberg.

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