CNBC now reporting that after the "funding secured" tweet, he tried to offer advice and express concerns regarding the potential going private deal and was ignored by Musk and others. After feeling that his view was ignored, he believed that it was not the right fit.
Edited to add: https://www.cnbc.com/2018/09/07/tesla-cao-dave-morton-quit-after-concluding-musk-wasnt-listening.html
"The day after he started, Musk tweeted he was considering taking the company private with "funding secured." Morton, who left his role as Seagate's CFO to join Tesla, was not flustered by the tweet and met with Musk to go over various details that would make a take-private difficult. He brought up specific details such as equity change of control provisions and potential step-ups in the value of Tesla's debt associated with a new controlling shareholder.
Musk and other executives didn't seem to care about the various financial obstacles, which concerned Morton, said the person. When Morton offered advice about capitalizing the company through other means rather than going private, he was ignored, said the person."
Morton joined the company as chief accounting officer with the expectation he would eventually take over or Ahuja as CFO, the person said. Ahuja returned to the CFO position in 2017 after retiring in 2015.
Submitted September 07, 2018 at 02:16PM by dvdmovie1 https://ift.tt/2M7kino
