“I think Tesla needs a new CEO”: Tesla investor calls for Elon to step down

Falling share prices, plummeting sales and violent activism prompt Tesla shareholders to speak out.

Tesla’s future is in turmoil as a high-profile investor has publicly called for Tesla chief executive officer Elon Musk to step down, accusing him of neglecting the electric car giant.

Ross Gerber, an early investor in Tesla, told Sky News Musk should either step aside or resign.

Gerber cited concerns over Tesla’s declining market performance and the damage to its reputation.

“I think Tesla needs a new CEO and I decided today I was going to start saying it and so this is the first show that I’m saying it on,” he told Sky News presenter Darren McCaffey.

“It’s time for somebody to run Tesla. The business has been neglected for too long. 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.”

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Long term Tesla investor Ross Gerber says "'I think Tesla needs a new CEO." Picture: Sky News

Gerber acknowledged Musk’s work ethic but argued that his time is stretched to thin between Tesla, his role as head of Department of Government Efficiency (DOGE) and his ownership of social media platform X.

Mr Gerber told presenter Darren McCaffrey that the business was “absolutely” in crisis and the appointment was among several reasons he had sold off a substantial number of shares in recent months.

“The company’s reputation has just been destroyed by Elon Musk,” he said.

“Sales are plummeting so, yeah, it’s a crisis. You literally can’t sell the best product in the market place because the CEO is so divisive”.

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US President Donald Trump and Elon Musk (R) speak before departing the White House on his way to his South Florida home in Mar-a-Lago in Florida on March 14, 2025. Picture: ROBERTO SCHMIDT / AFP

The company’s market value has plummeted by over USD $800 billion since December, and its stock dropped by another 4 per cent in US trading on Tuesday.

Gerber warned that Musk’s divisive reputation and controversial social media posts are damaging Tesla’s reputation.

Musk’s recent work alongside President Trump and his far-right alignment has sparked outrage with global protests and riots.

Tesla’s struggles also include slowing demand for EVs, rising competition from China and fears of escalating costs linked to US President Donald Trump’s trade war.

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Protesters hold signs and sing chants during a protest against Elon Musk and his Tesla car company outside the Tesla dealership in Boston, Massachusetts on March 15, 2025. Picture: Joseph Prezioso / AFP

Reddit threads are rife with predictions of Musk’s potential departure.

One user, CareBearOvershare, predicted that Musk may step down by June 1st.

Some, like Chadmartigan, suggested Musk will only step down once he has extracted all value from Tesla for his other ventures.

Others, such as LogicalClassic4451 argued Musk should be ousted immediately, pointing to the 50 per cent price collapse tied to his actions.

One user HauntingDesign said Musk’s political influence should protect him from any removal.

Many users are calling from a new Tesla chief executive.

Others have rallied to support Musk in a time of crisis.

Dozens of Tesla owners gathered in a show of support for Elon Musk last weekend in response to the “Tesla Takeover” movement sweeping the US.

Tesla Takeover Asia was 🔥🔥🔥

The Tesla community stand with Tesla and Elon Musk pic.twitter.com/AOXWV86SQJ

— Tesla Owners Silicon Valley (@teslaownersSV) March 14, 2025