No, this isn’t an early April Idiot’s Day joke—Telsa CEO Elon Musk is now additionally the “Technoking of Tesla,” and Chief Monetary Officer Zach Kirkhorn has added the title “Grasp of Coin,” based on a regulatory submitting. They may retain the titles of CEO and CFO, respectively.
Tesla used to have a chief expertise officer in co-founder J.B. Straubel, however he left the company in 2019. Kirkhorn’s “Grasp of Coin” title could also be a reference to the corporate’s buy of Bitcoin disclosed last month.
In a separate submitting Monday, the corporate mentioned Jerome Guillen, who’s been president of automotive since September 2018, transitioned final week to president of Tesla heavy trucking. Musk first confirmed a Semi prototype in December 2017 and mentioned at the moment Tesla would begin manufacturing in 2019. It’s now planning to start out deliveries by the end of this year.
“As Tesla prepares to enter the vital heavy-trucks marketplace for the primary time, Mr. Guillen will now leverage his in depth background on this business to deal with and lead all points of the Tesla Semi program, together with the associated charging and servicing networks,” the corporate mentioned.
Buyers reacted positively to the transfer. Shares of the corporate rose as a lot as 2.8% to $713.18 in New York.
“We view Guillen shifting to the heavy truck frontier as a major strategic transfer displaying Tesla plans to double down on its semi and trucking imaginative and prescient over the following few years,” Dan Ives, an analyst at Wedbush who has a impartial score on the inventory, wrote in a observe to purchasers Monday.
Prior to now yr, Guillen has bought round 82,000 shares and pocketed roughly $50 million of proceeds. The overwhelming majority of these gross sales have occurred up to now six months, together with 30,000 shares bought to this point in 2021. The gross sales have been made based on pre-arranged buying and selling plans, regulatory filings present. They didn’t disclose his motive for promoting.