Third-largest Tesla stock owner says Elon Musk should step down as CEO

Indonesian billionaire KoGuan Leo, third individual shareholder of electric vehicle manufacturer Tesla, is demanding CEO Elon Musk resign.

Leo accuses the eccentric billionaire of focusing too much on Twitter, the social media site recently bought by Musk for over $44 billion.

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Dr. Leo KoGuan attends the 2015 World Science Festival Spring Gala at Frederick P. Rose Hall, Jazz at Lincoln Center on April 30, 2015, in New York City. (Photo by Desiree Navarro/WireImage) (Getty Pictures)

“Elon has abandoned Tesla and Tesla has no working CEO,” Leo wrote on Twitter on Wednesday. “Tesla needs and deserves a full-time CEO.”

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TSLA TESLA INC. 150.23 -7.44 -4.72%

Leo went on to suggest that the You’re here The board was forced to look for a replacement. The billionaire suggested that Musk be given the opportunity to find and appoint his own successor with the independent oversight of the board.

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A close-up of the Tesla logo on a charger at a Supercharger battery fast-charging station for electric vehicle company Tesla Motors in the town of Mountain View, Silicon Valley, California, August 24, 2016. (Smith Collection/Gado/Getty Images/Getty Images)

He added: “Elon was the proud father, Tesla grew up. A hangman, like Tim Cook, is needed, not Elon.”

Leo owns about 22 million shares of Tesla, with a total value of about $3.4 billion.

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Elon Musk speaks at a meeting in Norway

Tesla CEO Elon Musk smiles as he addresses guests at the 2022 Offshore Northern Seas (ONS) meeting in Stavanger, Norway, August 29, 2022. (Carina Johansen/Getty Images/Getty Images)

A European Commission official reacted early on Friday to Twitter’s recent announcement suspension of certain journalistsseeming to suggest that Musk or the company could face sanctions.

Suspended accounts include those of CNN correspondent Donie O’Sullivan, New York Times tech reporter Ryan Mac, Washington Post reporter Drew Harwell, The Intercept reporter Micah Lee and others. Fox News reported.

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