Elon Musk’s Tesla simply misplaced one other long-time veteran government, persevering with the spree of resignations on the $700 billion electric-vehicle maker this yr.
Sreela Venkataratnam posted on LinkedIn that she was leaving after 11 years to take a break and spend “quality time with family, reconnect with old friends, and focus on personal well-being.” Venkataratnam’s exit is the most recent in a line of at the very least six different high-profile executives who left this yr, amid large layoffs and the axing of practically the whole Tesla Supercharger crew. Through the month of April, three executives give up within the area of two weeks, together with longtime vice chairman of investor relations Martin Viecha, senior vice chairman Drew Baglino, and Rohan Patel, vice chairman of public coverage and enterprise growth.
In her farewell put up, Venkataratnam described her journey on the firm as “nothing short of extraordinary.” She joined when Tesla had lower than $1 billion in revenues and was underneath $4 billion in market cap. As she left, annual revenues had been nearing $100 billion with the market cap hitting $1 trillion through the pandemic earlier than it dropped, Venkataratnam wrote. Tesla has rattled its non die-hard buyers with struggles in recent times, together with a 30% decline in worth, hiring slowdowns and job cuts. It suspended its summer season internship program. In the meantime, the corporate this yr rallied Tesla buyers to reapprove Musk’s eye-popping pay package deal, valued at $56 billion, after a choose rescinded it in January. Venkataratnam’s exit leaves one different lady in a VP function on the firm, she stated, and follows the exit of one other prime feminine government, Allie Arebalo, who was head of human assets and left after six years.
Venkataratnam wrote she was grateful for her time on the firm and hoped to seek out one other “incredible opportunity like Tesla” when she was prepared for an additional job. Colleagues and supporters wished her effectively, together with one, Jason Wheeler, who congratulated her on “an amazing run at a company that wasn’t always easy to work at.”
Venkataratnam replied, “It is definitely not for the faint of heart! It was great working with you especially during those tough days!” Wheeler’s LinkedIn profile states he was chief monetary officer and a senior advisor at Tesla from 2015 to 2017.
Not all Tesla departures have been as jovial. Head of product launches Wealthy Otto give up in Could amid the layoffs and wrote as he left that the cuts had been “rocking the company and its morale.”
“Great companies are made up of equal parts great people and great products, and the latter are only possible when its people are thriving,” Otto wrote in a put up on LinkedIn. He stated job cuts and the influence on the office tradition threw the concord out of whack at Tesla and left him needing a change.
“It’s a company I love and that has given me so much, but has also taken its pound of flesh,” Otto wrote.
Tesla didn’t instantly reply to a request for remark.
