Elon Musk’s Cousin & SolarCity Founder Lyndon Rive To Part Ways With Tesla, Inc. In June

MAY 16 2017 BY MARK KANE 6

Tesla Solar Roof in Smooth Glass

It’s not unusual for a higher up to part ways with a major company, but when you’re the co-founder and your cousin is the CEO, the decision to leave after nine years seems a bit more than meets the eye.

Lyndon Rive, Co-Founder, Chief Executive Officer SolarCity

After around nine years since co-founding SolarCity, former CEO Lyndon Rive (Elon Musk’s cousin) has announced that he’s leaving Tesla, Inc. to spend more time with his family and maybe to start new company.

“Rive co-founded SolarCity with his older brother Peter in 2006 with financial backing from their cousin Musk. Peter Rive, who was SolarCity’s chief technology officer, will remain to focus on the company’s solar roofs.”

According to Reuters, Rive was considering departing from the company a few months ago:

“My skill set and what I love doing is starting and running companies. I can hand off the baton to somebody else and give myself the opportunity to do something else that could also have another impact.”

We should note that this “leaving to spend time with family” is becoming increasingly common when a top exec departs. It’s an easy way out of a situation that might not be to one’s liking anymore. These previous posts indicate there may be some issues at SolarCity:

Tesla-Owned SolarCity Cut Work Force By 20% In 2016

SolarCity Continues To Struggle, Reports 40% Drop In Solar Installations In Q1

Bank Of America Downgrades Tesla Due To SolarCity Concerns

Some could speculate that Rive doesn’t want to subordinate to the new strategy of Tesla, which is restructuring its entire solar activity.

Anyways, Rive’s responsibilities will be distributed among Tesla, Inc. leadership.

Source: Reuters

Categories: Tesla

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6 Comments on "Elon Musk’s Cousin & SolarCity Founder Lyndon Rive To Part Ways With Tesla, Inc. In June"

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Musk firing his own cousin wouldn’t surprise me. I don’t think anyone gets a lot of rope around his companies.

He has little to complain about. He got a bailout first from Tesla shareholders. He can just think of it as a buyout instead of being fired.

Musk actually doesn’t have the authority to fire him. C-level executives serve at the pleasure of the Board (including Musk).

Golden Parachute, thank you Tesla shareholders!

He should leave. He ran SCTY almost into ground that his Cousin Elon Musk bailed him and his company out with TSLA stock, reputation and cash.

He should redesign and leave on his own so the SCTY portion of the TSLA can/will take on a new direction as it already starts to.

It’s hardly a surprise that any CEO would leave when he has been demoted from CEO of an independent company, to CEO of just one division of a much larger company, especially when a major restructuring is going on… probably taking the division in a direction he did not choose.

There’s also the situation that many people find Elon Musk difficult to work with. Working under a “my way or the highway” kind of boss isn’t for everyone… not even if he’s your cousin.

In fact, given just how big a change this is for SolarCity, it would be surprising if the former CEO did not leave.