Rumour: Tesla board to consider a move after CEO breakdown

According to a media report, Tesla Chairman and CEO, Elon Musk has revealed that he is under tremendous stress. This has resulted in a fall in the share price of the electric carmaker and has put pressure on the company board to take action.

Earlier this month, Musk announced on Twitter that he plans to take Tesla private. However, government regulators launched an investigation into this as the announcement could have violated disclosure norms. It is also reported that the CEO clocks in around 120 hours every week and struggles to sleep at night. This has been taking a toll on his health.

One of the options rumoured to be discussed includes Musk stepping down or hiring a No. 2 executive who would assist the CEO. Musk also said that he has no immediate plans of stepping down from his positions in the company. Apart from Tesla, he is also the CEO of SpaceX and Founder of The Boring Company.

Source: TOI