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Tesla’s information chief Gary Clark steps down

Tesla’s (TSLA) Chief Information Officer Gary Clark is leaving the company as part of its restructuring plan to achieve profitability in the second half of the year, according to Electrek. Clark had joined Tesla in early-2017, replacing Jay Vijayan, who left the company in January 2016. Tesla shares were up 1.45% in premarket trading today.

Tesla didn’t have positions of Chief Operating Officer or Chief Marketing Officer until recently. Last month, CEO Elon Musk had announced a 9% workforce reduction to turn the company’s results from a loss to profit.

The job-cut has affected nearly 46,000-odd employees. The program included a major management reshuffle, including flattening of the management.

The company’s elite class is now limited to Elon Musk, technology chief JB Straubel, and people chief Gabrielle Toledano. Tesla is yet to find a replacement for accounting chief Eric Branderiz after he left the company in March.

During early 2016, several of the company’s IT managers and executives departed due to an uncertain future. Information technology remained the main part of the company as Tesla focused on building its own internal enterprise software. Due to this and higher expectations from the company, employees had a tough time in keeping their position steady at Tesla.

Shares of Tesla ended Thursday’s regular trading session up 1.58% at $349.93 on the Nasdaq. The stock had been trading between $244.59 and $389.61 for the past 52 weeks.

Also Read:  Oracle Corp (ORCL) Q1 2021 Earnings Call Transcript

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