What do you do when your CEO confesses that he's cracking under the stress of his job? But Erik Gordon, a University of Michigan business and law professor, said Tesla's board has a fiduciary duty to shareholders to take action. Shares of Tesla slumped almost nine per cent on Nasdaq on Friday, dropping $29.95 US to close at $305.50 US. The interview and other actions, Gordon said, are signs that Musk no longer can handle the CEO job. In the interview, Musk stood by his Aug. 7 tweet saying he had secured funding to take Tesla private in a deal that could be worth more than $20 billion.

Source: CBC News August 17, 2018 14:23 UTC