After only a month on the job, Tesla’s Chief Accounting Officer, Dave Morton, resigned on Friday, September 7th. Morton explained his exit was due to the level of public attention on the company, along with the extremely fast paced work environment. Morton is the latest executive to leave the company, however, Tesla has seen 50 executives leave the company in the past 2 years. Yet, Musk is convinced that this executive turnover is up to par with other large companies. Furthermore, Musk announced plans for a reorganization of the company aimed at flattening the layers of management.
Nike released its new “Just Do It” ad this past Labor Day, celebrating the 30th anniversary of the “Just Do It” campaign. The ad was nothing short of controversial, as it contained a close up of Colin Kaepernick’s face with a quote that read, “ Believe in something. Even if it means sacrificing everything”.
Monday, August 27th, Toyota announced its $500 million investment in Uber, which will fund joint operations in the development of autonomous vehicles. Toyota’s investment values the company at $72 billion.
Elon Musk, CEO of Tesla Inc., has come under scrutiny this week after tweeting that he would take Tesla private at $420/share, and that he had funding secured. Now, Musk must face his critics, as well as his shareholders regarding this announcement.
Indra Nooyi, one of the most powerful leaders of a Fortune 500 company, is stepping down after 12 years as PepsiCo’s CEO. Nooyi was the second highest paid women CEO, earning $25.9 million. Statistics show that less than 5% of Fortune 500 leaders are women, and even less are people of color. Nooyi was a successful leader who broke stereotypes in her 24 years total at Pepsi. During her time at PepsiCo, Nooyi accounted for an 80% growth in sales with a heavy focus on environmental safety. She earned $87 million over the last three years. She is recognized as an incredible CEO who grew PepsiCo by leaps and bounds.