Indonesian billionaire KoGuan Leo, the third-largest individual shareholder of electric vehicle manufacturer Tesla, is demanding CEO Elon Musk step down.
Leo accuses the eccentric billionaire of focusing too heavily on Twitter, the social media site recently purchased by Musk for over $44 billion.
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“Elon abandoned Tesla and Tesla has no working CEO,” Leo wrote Wednesday on Twitter. “Tesla needs and deserves to have working full time CEO.”
Leo went on to suggest that the Tesla Board of Directors was obligated to look for a replacement. The billionaire suggested that Musk be given the opportunity to find and name his own successor with the independent supervision of the board.
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He added, “Elon was the proud father, Tesla has grown up. An executioner, Tim Cook-like is needed, not Elon.”
Leo owns approximately 22 million shares of Tesla, worth approximately $3.4 billion in total.
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An official with the European Commission reacted early Friday to Twitter’s recent suspension of some journalists, appearing to suggest that musk or the company could face sanctions.
The suspended accounts include those of CNN correspondent Donie O’Sullivan, New York Times technology reporter Ryan Mac, Washington Post reporter Drew Harwell, The Intercept reporter Micah Lee and others, Fox News reported.
Source: https://finance.yahoo.com/news/third-largest-tesla-stock-owner-141143515.html