Latest news with #OmeadAfshar
CNA
2 hours ago
- Automotive
- CNA
Top Tesla executive, an Elon Musk confidant, leaves the company, sources say
Tesla executive and longtime Elon Musk confidant Omead Afshar has left the electric-vehicle maker, three people familiar with the matter said on Thursday, another senior departure as the company grapples with slowing global demand. Afshar was part of the CEO's office and since last year had overseen sales and manufacturing in Europe and North America. After joining Tesla in 2017, he quickly became one of Musk's trusted lieutenants, playing a central role in major projects like the Texas Gigafactory. The sources, who declined to be identified, had no details on the circumstances of his exit or the reason behind it. Afshar posted about Tesla on X early this week, and his profiles on X and LinkedIn still showed his Tesla role as current on Wednesday. Afshar departed amid slumping demand in Europe and North America for Tesla's aging vehicle line-up while rivals have offered more affordable alternatives. Two people familiar with Tesla's operations said Afshar was among the executives who took on bigger roles this year when Musk was focused on Washington. Musk led President Donald Trump's government cost-cutting drive this year, and many investors and analysts worried that distracted Musk from Tesla and alienated some potential buyers. Former mid-level Tesla sales manager Matthew LaBrot, who was recently fired for public criticism of Musk, said Afshar was a "supporting character" closely tied to Musk until he rose to head sales and manufacturing in North America and Europe. LaBrot said there was significant pressure internally to deal with the sales declines, which have been particularly severe in Europe. Afshar's departure was reported earlier by Bloomberg News, which also reported that North America HR Director Jenna Ferrua had exited the company. Two of the three people who confirmed Afshar's departure to Reuters also said Ferrua had left. One of those people said Afshar and Ferrua were close colleagues, so it was not surprising that both left around the same time. Another of the people said Ferrua has served as a direct HR adviser to Afshar. The departure caps a series of executive exits over the past 14 months, driven by company-wide restructuring as Tesla slashed thousands of jobs and shifted its focus to AI-powered self-driving technology and robotics. The departures included leaders in robots, batteries and public policy. The head of Tesla's Optimus humanoid robot team, Milan Kovac, announced he was leaving this month, and top battery executive Vineet Mehta did so in May. Chief battery engineer Drew Baglino, Rebecca Tinucci, who led the supercharging division, and global public policy head Rohan Patel left in spring 2024. Musk ended his Washington stint in late May, reassuring some investors concerned about brand damage. But Tesla's shares remain down about 19 per cent for the year, after an initial rise on optimism that Trump's victory would clear the regulatory path for robotaxis. On Sunday, Tesla deployed self-driving taxis in Austin, Texas. Some analysts have warned that the company's plan to expand to other cities later this year could face hurdles, due to concerns about safety and the technology. On Monday, Afshar posted on X that the Austin robotaxi debut was an "absolutely historic day for Tesla," adding: "Thank you, Elon, for pushing us all!" In the past, Afshar posted about spending holidays and late nights with Musk, particularly when Tesla was ramping up production of the mass-market Model 3 sedan in 2018. He reflected in a March post about "living in the factory at this time, truly 24/7."
Yahoo
3 hours ago
- Automotive
- Yahoo
Tesla Fires Top Executive Omead Afshar as EV Sales Slump in U.S. and Europe
Tesla (TSLA, Financials) dismissed Omead Afshar, one of Elon Musk's most trusted executives, as the company faces falling electric vehicle sales in its key North American and European markets; the leadership shakeup comes days before the end of Q2 and amid signs of deepening trouble at the EV giant. Afshar, a Tesla veteran since 2011 and once dubbed Musk's fixer, was promoted in October to lead regional operations. His exit follows a 15% sales drop in China in May, five months of shrinking deliveries in Europe, and a projected 10% global decline for the quarter ending June 30. Tesla stock fell 3.8% Wednesday to $327.55 and is now down 19% in 2025. Musk's pivot away from new EV models toward speculative ventures like robotaxis and humanoid robots is drawing scrutiny from investors. Tesla's limited robotaxi pilot in Austin launched June 22 but showed signs of immaturity: the vehicles operated in a narrow zone with human safety drivers, and multiple erratic incidents have prompted a review by the National Highway Traffic Safety Administration. Despite the hype, Tesla still generates nearly all its revenue from electric vehicles, batteries, and charging infrastructureleaving analysts wary of its ability to compete with aggressive Chinese automakers in a softening global market. This article first appeared on GuruFocus.
Daily Mail
5 hours ago
- Automotive
- Daily Mail
Elon Musk finds his Tesla 'scapegoat' after billionaire's White House antics were blamed for cratering EV sales
Elon Musk has fired one of his top lieutenants at Tesla after the billionaire's White House antics cratered the EV firm's profits and stock price. The Tesla chief sacked the company's head of operations in North America and Europe, Omead Afshar, as profits in the two continents struggled. His departure, first reported by Forbes, came days before Tesla's second quarter earnings, suggesting they'll make for grim reading. It follows a dismal few months that saw Tesla's electric vehicle sales drop for a fifth consecutive month in Europe. Worldwide, analysts say that they expect Tesla's EV deliveries to have dropped at least 10 percent in the second quarter. So far this year, Tesla stock is down almost 14 percent. Much of that fall may be attributed to the Chinese market, the largest for the electric car company, which saw a 15 percent drop in May alone. But Musk is also widely regarded as doing horrendous damage to his car firm by acting as Donald Trump's efficiency chief for the first few months of his presidency. Musk's businesses faced nationwide boycotts as he took an axe to the federal government's programs through his Department of Government Efficiency (DOGE). His antics saw the type of liberal, environmentally-conscious driver who'd previously flocked to Tesla shun the brand for electric rivals. President Trump staged a bizarre White House lawn 'infomercial' to try and drum up interest in the cars and even bought one himself. But that further annoyed woke Tesla drivers and likely did little to win around conservative drivers, who tend to favor traditional gas engines. Trump announced he's selling his own Tesla Model S after the pair fell out, with the vehicles and their dealerships vandalized and firebombed across the world. Musk's decision to sack Afshar ended his 14-year career at Tesla, after he began as an engineer before rising to one of Musk's top lieutenants. He was promoted to vice president last October and was tasked with overseeing Europe and North America, but this year's struggles have now seen him axed. Last year, a Wall Street Journal profile described him as 'Musk's fixer' and as 'one of the most powerful executives at the electric-car maker.' Although Tesla has suffered a poor start to the year, Musk received good news this week as he rolled out a new self-driving 'robotaxi' product, which will soon ferry passengers around the streets of Austin in Texas. The debut of the modified Tesla Model Y cars helped increase the share price by nine percent. Musk's personal net worth rose $15 billion on Monday as markets reacted to the futuristic product, and he extended his lead as the world's richest man by a staggering $170 billion over Oracle founder Larry Ellison. Days before he faced the axe, Afshar praised the robotaxi rollout, saying on X on Monday: 'Absolutely historic day for Tesla. This has been *years* of hard work and focus by so many people within the company. 'Thank you, Elon, for pushing us all!' Although some investors said the prototype exceeded expectations, it was not without fault, as some riders said the self-driving Model Y SUVs were turning down the wrong side of the road and stopped to let passengers out on busy intersections. The successful rollout of the robotaxi was welcome news for Musk as his other recent vehicle, the Cybertruck, missed its sales goals by a staggering 84 percent this year. Sales fell over 50 percent from Q4 in 2024 at 12,900 units to just 6,406 in Q1 of 2025. Across the board, estimates of Tesla EV deliveries dropped significantly this quarter, down to 392,800 units compared to 443,956 at the same time last year.
Wall Street Journal
5 hours ago
- Business
- Wall Street Journal
TNB Tech Minute: Apple Faces EU Deadline to Comply with App Store Concerns - Tech News Briefing
Full Transcript This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Victoria Craig: Here's your TNB Tech Minute for Thursday, June 26th. I'm Victoria Craig for The Wall Street Journal. A 60-day window expires today for Apple to comply with an EU decision requiring the tech giant to tell users about better deals outside of its App Store. It's the first time that European Union's competition regulator will review what big tech has done to comply with its landmark Digital Markets Act after fining companies for flouting rules. Earlier this year, the regulator fined Apple $583 million over its App Store terms. Apple declined to comment on today's deadline, but said when the fine was handed down in April, that it would appeal, finding it unfairly targeting the company and bad for user privacy. Elsewhere, a top aide to Tesla CEO, Elon Musk, who was promoted less than a year ago, has left the company. People familiar with the matter told the Journal, Omead Afshar, who was in charge of sales and manufacturing operations in North America and Europe did not return WSJ's request for comment. Sources also said the company's director for human resources left the company. The moves come after Tesla's core vehicle manufacturing business has suffered its deepest sales decline in years. Globally, new vehicle deliveries were down 13% in the first quarter while profit dropped 71%. And one final exclusive story to tell you about, Mark Zuckerberg has poached three researchers from OpenAI to join Meta's superintelligence efforts, people familiar with the matter told the Journal. A spokesperson for OpenAI confirmed the departure of the three employees working in the company's Zurich office, which they set up late last year. Before that, the trio worked together at Google DeepMind, that company's AI unit. OpenAI's Sam Altman said, Tuesday, he's not worried about Zuckerberg's hiring blitz. For a deeper dive into what's happening in tech, check out Friday's Tech News Briefing podcast.
CTV News
6 hours ago
- Automotive
- CTV News
Tesla executive, Elon Musk confidant leaves EV maker, source tells Reuters
Tesla executive and a confidant of CEO Elon Musk, Omead Afshar, has left the company, according to a person familiar with the matter. Afshar, who was part of the CEO's office at Tesla, had started overseeing sales and manufacturing operations in Europe and North America last year. Demand has tumbled, especially in Europe and North America, for the company's aging line-up of vehicles as Musk embraced right-wing politics and amid heightened competition from Chinese rivals. Last year, Tesla underwent a sweeping leadership shakeup as Musk's efforts to trim costs and pivot strategy to focus on self-driving technology and robotics led a wave of executive departures. Several top executives left Tesla amid restructuring and layoffs, including CFO Zach Kirkhorn, chief battery engineer Drew Baglino, and Rebecca Tinucci, who led the Supercharging division. Separately, Jenna Ferrua, who headed human resources operations in Austin, has also quit, according to media reports. Tesla and Musk did not immediately respond to Reuters requests for comment, while emails to Afshar were not delivered. Reporting by Akash Sriram in Bengaluru and Alexandra Ulmer in Washington; Editing by Shinjini Ganguli, Reuters
