Tesla co-founder steps down

Tesla chief technical officer Jeffrey Brian (JB) Straubel is moving out of his role but staying on at Tesla as an advisor.

He’s reported to be leaving his CTO position after gaining about US$30 million in share sales in under nine months.

Tesla chief executive officer Elon Musk announced Straubel’s move in a call to investors about the company’s second quarter earnings, which included a worse than expected loss and helped send Tesla shares down.

Straubel, who assures media his departure as CTO is not through any lack of confidence in the company, joined Tesla in March 2004 – about a month ahead of Musk who he reportedly helped recruit, and will be succeeded by Tesla technology vice-president Drew Baglino.

In 2006, Straubel featured in a major publication taking California governor and EV advocate Arnold Schwarzenegger for a drive at the Tesla Roadster unveiling.

A number of executives have left Tesla in recent years for various reasons, including its chief financial officer, chief accounting officer, vice presidents of engineering, finance, production, manufacturing, service and sales; human resources head, two general counsels and more.