Tesla shareholder group complains Elon Musk is too distracted to run company | CNN Business

Tesla, the electric car maker company, has faced legal issues before, the latest being a lawsuit by a shareholder group that claims CEO Elon Musk is too distracted to run the company. On Thursday, a group of institutional investors wrote a letter to Tesla’s board, suggesting that Musk’s other business ventures, including SpaceX and The Boring Company, are taking away from his focus on Tesla. The shareholders advise that Musk should appoint a strong second-in-command to help him shoulder some of the responsibility for Tesla’s operations. The letter added that the company needs a strategic reorientation, improved execution and a refreshed board. Although Musk has always been known to be busy with multiple ventures under his belt, their claims may prove valid since Tesla has faced delivery and production issues with some of its models in recent years. Regardless, whether or not the court agrees with the shareholders’ claims, it highlights the potential problems that a CEO spreading themselves too thin can face. The impact of Musk’s potential distraction could ultimately have far-reaching consequences to Tesla and the electric vehicle industry as a whole.