Tesla Motors has replaced Martin Eberhard as CEO. The new CEO is Michael Marks. Marks is the former CEO of Flextronics and an early investor in Tesla. Elon Musk will post this news to the Tesla website Monday.
Update: To be clear, Matt Nauman says that Musk will say that Eberhard will continue as the company's president of technology "and focus on the success of the Roadster program as well as the advancement of our core technologies."

Update II: As Tony correctly notes below, Tesla will look for a permanent replacement for Eberhard while Marks serves as interim CEO.

Update III: Musk's statement is here.

[Souce: Matt Nauman]

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