Milan Kovac said he was leaving to spend more time with family abroad and that his exit "has absolutely nothing to do with anything else," calling support for CEO Elon Musk "ironclad."

A breakdown in relations between President Trump and Elon Musk slammed Tesla stock Thursday, along with assets associated with the U.S. leader. Tesla shares regained some ground early Friday. Shares of Musk’s electric-vehicle maker rose around 4% in morning trading.

As Elon Musk and Donald Trump take jabs at each other online, their respective businesses are plummeting in value.