Tesla and SpaceX Chief Executive Officer Mr. Elon Musk has been officially announced as ‘Technoking of Tesla’ while Chief Financial Officer Mr. Zach Kirkhorn has been rebranded ‘Master of Coin.’
In a US Securities and Exchange Commission filing the US-based electric vehicle manufacturer Tesla and aerospace manufacturer, SpaceX reported that “Elon and Zach will continue to serve as Chief Executive Officer and Chief Financial Officer, respectively.”
After Tesla’s stock price fell in February, Mr. Musk had lost his title as the world’s richest person. With the latest rebranding activity, the maverick entrepreneur could be looking for a boost in morale as his company’s once high-flying valuation falters slightly. Mr. Musk’s vision of zero-emission vehicles dominating the world sparked one of the most remarkable stock rallies of 2020, with the company’s stock rising over 600 percent.
However, in 2021, those figures started to dip, with Tesla’s stock falling nearly 14 percent in the first two months. Last week, a fire at the company’s Fremont factory sent share prices further down. More than 450 cases of COVID-19 were also reported among Tesla employees through December 2020, putting pressure on already struggling share prices.
Mr. Musk has a reputation for being a corporate prankster who rattles the conventional picture of a Chief Executive Officer and often challenges the limits of propriety. He has taunted reporters and government regulators on Twitter, and has brazenly beta tests new driver assistance technologies on his customers, misrepresenting it as completely autonomous technology.
“Technoking” isn’t the only portmanteau to emerge from Tesla. Tesla’s boxy, divisive Cybertruck is also expected to go into production later this year, though Mr. Elon has said the enterprise would be “lucky” if it isn’t delayed.