A well-known Tesla investor believes that Elon Musk should step down as CEO unless he gives up his position in the U.S. government.
Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management and an early Tesla investor, recently stated on a TV show that Tesla needs a new CEO immediately.
“It’s time for someone to run Tesla,” Gerber said. “This issue has been ignored for too long. Tesla is involved in a lot of important things, so Musk has two choices: either return to Tesla full-time, give up his other positions, and focus entirely on leading the company, or step aside and allow a new CEO to take over.”
Musk’s Leadership Is Damaging Tesla’s Reputation
Gerber emphasized that Musk’s controversial social media presence and his involvement with U.S. President Donald Trump have negatively affected Tesla’s brand.
“The company’s reputation has been ruined by Elon Musk,” he stated. “Sales are plummeting. This is a crisis. Tesla has the best product on the market, but it’s struggling to sell because its CEO is too divisive.”
Tesla Faces Multiple Challenges, Including Musk Himself
Musk has become one of Trump’s most trusted advisors, serving as the head of the “Department of Government Effectiveness” (DOGE) in the new administration. While Trump’s election victory initially boosted Tesla’s stock, the company has faced significant setbacks since then.
Tesla’s stock price has fallen by more than 41% this year. After reaching an all-time high of $488.54 per share, it has dropped to $235.86 as of the last trading session. While the broader market downturn has played a role, Tesla is also facing its own internal struggles.
The company has been grappling with declining electric vehicle (EV) demand and increasing competition from rivals. However, a new challenge has emerged: consumer backlash against Musk.
Declining Sales and Rising Protests
Tesla’s European sales plummeted in the first two months of this year, even as overall EV sales in the region increased. This signals that Tesla’s reputation among European consumers is rapidly declining.
Meanwhile, anti-Musk sentiment is intensifying worldwide, with protests becoming increasingly frequent. In the U.S., Tesla dealerships and Supercharger stations have been targeted, and there have even been reports of vandalism against Tesla vehicles. Online and offline hostility toward Musk and Tesla is growing.
Protesters across the U.S. and Europe are urging Tesla owners to sell their cars and encouraging investors to dump Tesla stock.
What’s Next for Tesla?
With mounting pressure from investors and the public, Tesla’s board faces a critical decision. Should Musk step aside, or can he regain trust and steer the company back on course?
Only time will tell.
