Analysis: Tesla desperately needs a No. 2 for Elon Musk

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fairly easy
Tesla is one of the world's most valuable companies. But there are growing concerns on Wall Street over the fact that CEO Elon Musk does not have a clear successor.
New York (CNN Business)

While Musk is not likely to step aside atanytime soon, it's evident he has many more interests — some would call them distractions — beyond electric vehicles. He's been obsessed with cryptocurrencies , especially dogecoin, as of late and talked about it briefly while hosting "Saturday Night Live." He's also in charge of SpaceX , another high-profile company.

With all that in mind, some analysts and fund managers are hoping Musk will finally hire a chief operating officer. Or, at a bare minimum, they want him to announce a Tesla succession plan.

They have a point.

It makes no sense for Tesla to be essentially a one-man show while SpaceX has an extremely adept COO in Gwynne Shotwell , one of that company's first hires, who is capable of stepping in to lead if Musk were unable to do so. Why doesn't Musk have someone like Shotwell at Tesla?

Gwynne Shotwell, president and chief operating officer of SpaceX, has been a long-time lieutenant to Elon Musk. (Photographer: Andrew Harrer/Bloomberg via Getty Images)

"If anything happens to Musk, I don't know what Tesla would do. I've been pushing the board of directors to have a COO and succession plan," said Ross Gerber, co-founder and CEO of Gerber Kawasaki, an investment firm that has its largest position in Tesla but recently trimmed ts stake.

"It's absurd that a company worth nearly $600 billion is run this way," Gerber said, "especially since Musk has so many other things going on."

Tesla did not respond to CNN Business' requests for…
Analysis by Paul R. La Monica, CNN Business
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