Elon Musk should step down as CEO of Tesla or give up his other jobs, stated Tesla investor Ross Gerber. The suggestion came after Tesla stocks saw a decline of 36% in the first three months of 2025, the sharpest decrease since 2022 and the third-largest drop for a quarter in history.
Speaking to Sky News, Gerber, the CEO of Gerber Kawasaki Wealth Management, stated that Musk is obviously committed to his DOGE role in the government. Stating that he is spending most of his time with the Trump administration rather than running Tesla, he asserted, “I think Tesla needs a new CEO. The business has been neglected for too long.”
Ross Gerber, an ardent advocate of change on the company’s board, has become more critical of Musk since he took the charge of DOGE.
“There are too many important things Tesla is doing, so either Elon should come back to Tesla and be the CEO of Tesla and give up his other jobs or he should focus on the government and keep doing what he is doing but find a suitable CEO of Tesla,” he told SKY News.
According to him, Musk’s focus has been diverted due to his engagement with X, causing a lot of damage to Tesla’s reputation. Reacting to the current state of Tesla, he said, “Sales are plummeting, so yeah, it’s a crisis. You literally can’t sell the best product in the marketplace because the CEO is so divisive.”
Romain Roy, a French businessman who had previously used Tesla EVs for his firm, recently canceled an agreement in protest of Musk and US policies. Roy canceled an order of fifteen Teslas and opted for European brands.
Also Read: DOGE to operate without Elon Musk after May? Donald Trump says ‘I think it will end’
Musk to be replaced by Tom Zhu?
Amidst calls for Musk’s resignation, one name that has garnered a lot of attention is Tom Zhu, the President of Tesla China.
According to reports, Zhu is an ideal candidate to succeed Musk due to his remarkable record and in-depth knowledge of Tesla’s operations.
Zhu, who grew up in China, received his education in the US and New Zealand. He pursued an MBA from Duke University. In 2014, he started his career as Tesla’s Director of Expansion in China, where he immediately proved his capacity to oversee major initiatives and spur development.
In 2019, he was elevated to the position of Vice President of Greater China, where he was instrumental in the swift building of Tesla’s Shanghai Gigafactory, which was completed in ten months.
In 2022, he took over as President of Tesla China, overseeing the company’s activities in the biggest EV market globally and greatly increasing output and delivery figures.
He assumed a more significant position internationally in 2013, managing Tesla’s assembly facilities and sales activities in the United States and filling in for Elon when he is not present.
Meanwhile, Tesla is dealing with vandalism and demonstrations at its dealerships. Earlier in March, Tesla’s Boston charging stations were set on ablaze. Protesters, who staged violent protests outside a Tesla showroom in Lower Manhattan, were taken into custody.