Lyndon Rive, former SolarCity CEO, plans to leave Tesla in June.
Lyndon Rive - SolarCity founder, former chief executive officer and first cousin to Tesla CEO Elon Musk has chose to depart the electric automaker in June later this year. Rive had served as head of sales and services in Tesla's energy division since previous year.
"I can hand off the baton to somebody else and give myself the opportunity to do something else that could also have another impact", he said.
The leaving of Rive doesn't come as much of a surprise following Tesla's very public and scrutinized $2.6 billion acquisition of SolarCity last August.
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Rive co-founded SolarCity with his older brother Peter in 2006 with financial backing from their cousin Musk.
Over the next decade, SolarCity expanded rapidly with innovative no-money-down financing schemes and a vast sales and installation operation. The company in 2013 aimed to have 1 million customers by 2018, but drastically scaled back plans at the end of 2015, growing far below expectations, as costs for funding that growth mounted and demand began to slow.
Analysts have argued for several months that last year's Tesla-SolarCity merger is hurting the Silicon Valley auto maker's valuation on the market.
Musk said the two companies belonged together because they share a common vision - a world fueled by renewable energy - and leadership. Tesla said the takeover would create a unique energy company that could power both your home and your vehicle. But given that SolarCity was burning through about the same amount of cash as Tesla at the time, despite being one-tenth the size, raised some eyebrows.
Rive started his first company at the age of 17, according to SolarCity's website. Rive's departure comes as Tesla prepares to launch the Model 3, its more affordable electric sedan, in July. Tesla investors criticized the merger at the time, complaining that incestual connections within the merger were ethically problematic.
Thomas didn't make excuses after the miss. "Honestly, I did", he said. "Not many guys can do that", Brooks said. Bradley and Thomas both made 3-pointers during that stretch, and they each scored 27 points for the game.
Jimmy Kimmel will be back as host of the Oscars when the 90th edition of the annual Academy Awards ceremony is held in March. As a result, Kimmel's first Oscars host outing ranked as one of the most memorable in history.
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The president was, however, referring to the comedian tossing a slew of crude insults at the president last week. Colbert said. "But you know who has got really bad ratings these days?" The blows went lower and lower.
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South Korean President Moon Jae-in has strongly condemned rival North Korea's missile test-launch as a "clear" violation of U.N. The launch has already been criticized by a number of countries, including the United States.
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