Elon Musk To Continue As CEO Of Tesla Motors For At Least Another 4 To 5 Years

By RTT News, 
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(RTTNews.com) - Electric car maker Tesla Motors, Inc.'s ( TSLA ) Chief Executive Officer Elon Musk said Tuesday that he is committed to remain at the helm of the company for at least another four to five years and then reassess his role.

Musk revealed this while replying to a question raised by a shareholder at the company's annual meeting held at the Mountain View, California-based Computer History Museum in earlier in the day. He has been the CEO of the company since October 2008.

Musk said "it is quite difficult to be CEO at two companies." He also serves as the CEO of his rocket-making company Space Exploration Technologies Corp. or SpaceX, as well as the non-executive chairman and principal shareholder of solar-panel supplier SolarCity Corp. ( SCTY ).

Musk stated that he is committed to staying through the high-volume production of Tesla's coming third-generation car, which the company would like to start producing at the end of 2016. Tesla is also likely to start construction on three separate sites for its giant battery factory.

Musk, age 42, is currently the Co-founder, Chairman, CEO and product architect of Tesla Motors and oversees product development and design from the beginning, including the all-electric Tesla Roadster, Model S and Model X.

Musk is also the chief designer at SpaceX, overseeing development of rockets and spacecraft for missions to Earth orbit and ultimately to other planets. SpaceX became the first commercial company to dock with the International Space Station and return cargo to Earth with the Dragon in 2012.

Prior to SpaceX, Musk co-founded PayPal, the world's leading Internet payment system, and served as the company's Chairman and CEO. Before PayPal, he co-founded Zip2, a provider of Internet software to the media industry.

TSLA closed Monday's regular trading session at $204.94, up $0.24 or 0.12% on a volume of 3.87 million shares.

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This article appears in: News Headlines

Referenced Stocks: SCTY , TSLA

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