August 13, 2007 - 3:59 pm EST
LOS ANGELES -- Martin Eberhard has been replaced by former Flextronics International boss Michael Marks as CEO of electric car company Tesla Motors Inc.
Eberhard will remain at Tesla as president of technology. He will focus on the launch of Tesla's electric two-seat roadster this autumn, said Elon Musk, Tesla's main venture capital backer. Musk is co-founder of the e-commerce company PayPal and the space travel company Space Explorations Technologies Corp., called SpaceX.
In a statement, Musk said Marks has "extraordinary leadership and depth of experience in manufacturing, operations and logistics." Musk said Marks' appointment is temporary and that a search for a permanent CEO continues.
Eberhard and Musk were both present last week at the Motor Press Guild meeting here. There were no signs of animosity between the two, nor was there any hint that an executive change was in the wind. Eberhard did say that the company might go public in 2008, which might have indicated that Tesla was searching for someone more attuned to negotiating an initial public offering.
Tesla, of San Carlos, Calif., says it has 570 orders for its roadster, which is set to be built by Lotus Cars in England. Tesla plans to offer a sedan, known as the WhiteStar, with plans to build it in New Mexico. The company projects total annual production reaching 25,000 units.
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Source:
Mark Rechtin
Automotive News
