A seasoned Tesla executive has bid farewell, marking yet another chapter in the saga of high-profile resignations at the $700 billion electric vehicle giant. Sreela Venkataratnam, who dedicated 11 years to the company, shared her decision to step away through a heartfelt post on LinkedIn, emphasizing her desire to take some time off for family, reconnect with friends, and focus on her personal well-being.
Venkataratnam’s departure adds to a growing list of at least six executive exits this year, amidst drastic layoffs and the disbandment of nearly the entire Tesla Supercharger team. April saw a particularly swift turnover, with three executives leaving in a mere two weeks, including investor relations VP Martin Viecha and public policy VP Rohan Patel.
In her farewell, Venkataratnam reflected on her remarkable journey at Tesla—starting when the company had revenues shy of $1 billion and a market cap under $4 billion. Fast forward to her exit, with the company nearing $100 billion in annual revenue and once boasting a market cap of $1 trillion, a figure that dwindled amid the shifting tides of the market. The tumultuous waves have left even the staunchest investors feeling unsettled, with a 30% decline in Tesla’s value, hiring freezes, and job cuts taking center stage in recent headlines. Adding to the woes, the company even suspended its summer internship program this year.
Despite the challenges, Venkataratnam expressed gratitude for her time at Tesla and harbored hopes of finding another extraordinary opportunity in the future. Among the well-wishers was Jason Wheeler, who lauded her for an “amazing run at a company that wasn’t always easy to work at.” Venkataratnam poignantly acknowledged the trials of the job, remarking, “It is definitely not for the faint of heart!” and expressed appreciation for the camaraderie shared during tough times.
However, not all departures from Tesla have been celebrated with warm sentiments. Rich Otto, head of product launches, left in May amid significant layoffs, describing the company and employee morale as “rocked” by the cuts. He lamented the disruption to harmony within the workplace, highlighting the essential role of thriving people in cultivating remarkable products.
As Tesla navigates the choppy waters of its internal challenges and external pressures, these resignations serve as a poignant reminder of the fragility that even the most ambitious organizations can face, and the profound impact it has on those who have passionately dedicated their careers to its vision.
With the winds of change blowing through Tesla’s corridors, the future remains uncertain, but Venkataratnam’s story is a testament to resilience amidst adversity—a narrative woven into the fabric of a company that continues to strive for greatness even when the road gets rough.
