Tesla is making significant changes to its leadership team amid a sharp decline in car sales. Raj Jegannathan, a veteran executive with 13 years of experience at the company, has taken over the sales team. Many believe he’s stepping into the role previously held by Troy Jones, who left after 15 years to focus on selling vehicles and downplaying political concerns.
Jegannathan lacks direct sales experience but has worked closely with CEO Elon Musk. He began his Tesla career in 2012 as a senior engineer, rising through the ranks to become Vice President of IT and later taking charge of vehicle service operations. The company’s sales have fallen sharply, particularly in North America and Europe, with last quarter seeing a 13% drop.
Analysts’ consensus is mixed, with a Hold rating based on 13 Buys, 13 Holds, and eight Sells over the past three months. The average price target of $298.97 per share suggests 9.3% downside risk for Tesla stock.
Source: https://www.tipranks.com/news/tesla-tsla-executive-with-no-sales-background-takes-over-sales-team