We all make mistakes. My most recent Tesla Motors (NASDAQ:TSLA) article had a big one, and has since been corrected. On that note, I feel the need to correct a huge speculative mistake with the article "Are We Seeing Musk's Tesla Exit Strategy?" Everybody has the right to his opinion, so anything is possible when talking about the future, but the odds of us seeing an exit strategy from Musk are astronomically low (SpaceX pun intended).
The author, Daniel Jennings, cites as evidence:
On June 9, 2014, a rather tired looking Musk even made this statement about the stock market to CNBC: "I mean, as Warren Buffett said, dealing with the market is like dealing with a manic depressive."
I highly doubt CEO Elon Musk had a serious change of heart in the six days since the annual stockholder meeting, which was held on June 3. Simply turn to the questions and answers session of the meeting:
Analyst Question: A question today is you had mentioned that you're planning to step down from Tesla as a CEO at one point, can you talk more about that and as well as whom do you want to be the CEO of the company after you do step down from that position? Thank you.
Musk's Answer, abbreviated: I've committed to be CEO of the company through volume production of the third-generation car, so that's somewhere in, I don't know, a four- or five-year time frame, and then I have to see how things are going at that point
Musk then followed up with, "I think I will certainly be the CEO for like, say four or five years." Based on that, it would be a stretch of astronomical proportions to use anything from six days later to suggest that Musk is getting ready to pack it in.
Obviously, the reason why this is a concern in the first place is that most people believe Tesla Motors is Musk and Musk is Tesla Motors, and if Musk leaves too prematurely, the company and stock would suffer greatly. Well, in conclusion, worry not. Assuming his health and well-being continue, and barring some extreme life plan changes or market changes, for either of which there is no credible evidence, there is every reason to believe that Musk is here to stay for years.
Disagree or have something positive or negative to add? Please comment below!
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