Tesla’s longtime vice president of finance, Sreela Venkataratnam, is leaving the company after 11 years, marking yet another executive departure following significant changes initiated by CEO Elon Musk earlier this year.

Key points:
– Venkataratnam announced her exit via LinkedIn, highlighting achievements and plans to focus on family and personal well-being.
– Tesla’s stock dipped 0.3% to $222.58 amid the news, after previously gaining nearly 1%.
– Venkataratnam’s exit comes as part of a wave of leadership changes at Tesla, including the dismissal of several senior executives as Musk shifts focus toward Full Self-Driving (FSD) technology.
– In April, Musk laid off over 10% of Tesla’s workforce and cut teams, indicating a drive for a “next phase of growth.”
– Reports noted that competitive pressure is mounting with Uber hiring former Tesla executive Rebecca Tinucci to lead its transition to electric vehicles.
– Tesla stock has fluctuated in 2024, currently down approximately 10% for the year but rebounding from an April low with analysts maintaining positive outlooks ahead of upcoming product launches.
– Piper Sandler maintains an overweight rating on Tesla stock with a $300 price target, optimistic about the company’s energy business growth.

Tesla remains competitive in the auto industry, holding a strong position in the market despite recent stock volatility.