Musk refutes claims suggesting Tesla could seek his replacement as CEO
According to The Wall Street Journal, the car company’s board of directors has begun searching for Musk’s successor, a claim that was denied by both Musk and Tesla on Thursday.
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Elon Musk is refuting claims that Tesla's board is searching for a new CEO to take his place.
This response from the founder of SpaceX and special adviser to former President Donald Trump follows exclusive reporting by The Wall Street Journal on Thursday. The report suggested that Tesla, facing a decline in stock prices over the past month and rising investor anxiety, had engaged executive search firms to find a replacement for Musk.
Robyn Denholm, the chair of Tesla's board, later stated that no search had been initiated, calling the Journal's report "absolutely false." Musk also took to X (formerly Twitter) to suggest that the Journal had been informed prior to the publication that Tesla had not started a CEO search.
“It is an EXTREMELY BAD BREACH OF ETHICS that the @WSJ would publish a DELIBERATELY FALSE ARTICLE and fail to include an unequivocal denial beforehand by the Tesla board of directors!” Musk expressed in his post on X, which he owns.
“WSJ is a discredit to journalism,” he added in another post. The Journal did not respond immediately to requests for comment.
The Journal's article emerged as Tesla faced a significant decline in sales and revenues in the first quarter of 2025, further complicated by concerns regarding the effects of Trump’s tariffs and Musk's temporary absence from the company as he focuses on reorganizing the federal government through the Department of Government Efficiency.
The report mentioned that Tesla’s board had narrowed down its search efforts to one major firm, but the specifics of the supposed CEO search remained unclear. The article was updated early Thursday to indicate that “Tesla didn’t provide a statement before publication.”
In a call with investors last week, Musk indicated that he would be dedicating more time to Tesla, stepping back from his work with DOGE to prioritize the electric car maker. Musk has led the company for two decades, adding to his numerous business interests.
In addition to falling earnings and potential supply chain challenges due to tariffs, Tesla has faced various protests at its showrooms nationwide, with demonstrators voicing concerns over Musk's leadership and his work with DOGE, which has involved significant layoffs and cuts within the federal government.
Denholm supported Musk in her post on X, signaling that he would continue in his role for the foreseeable future.
“The CEO of Tesla is Elon Musk and the Board is highly confident in his ability to continue executing on the exciting growth plan ahead,” the post stated.
Rohan Mehta for TROIB News
This response from the founder of SpaceX and special adviser to former President Donald Trump follows exclusive reporting by The Wall Street Journal on Thursday. The report suggested that Tesla, facing a decline in stock prices over the past month and rising investor anxiety, had engaged executive search firms to find a replacement for Musk.
Robyn Denholm, the chair of Tesla's board, later stated that no search had been initiated, calling the Journal's report "absolutely false." Musk also took to X (formerly Twitter) to suggest that the Journal had been informed prior to the publication that Tesla had not started a CEO search.
“It is an EXTREMELY BAD BREACH OF ETHICS that the @WSJ would publish a DELIBERATELY FALSE ARTICLE and fail to include an unequivocal denial beforehand by the Tesla board of directors!” Musk expressed in his post on X, which he owns.
“WSJ is a discredit to journalism,” he added in another post. The Journal did not respond immediately to requests for comment.
The Journal's article emerged as Tesla faced a significant decline in sales and revenues in the first quarter of 2025, further complicated by concerns regarding the effects of Trump’s tariffs and Musk's temporary absence from the company as he focuses on reorganizing the federal government through the Department of Government Efficiency.
The report mentioned that Tesla’s board had narrowed down its search efforts to one major firm, but the specifics of the supposed CEO search remained unclear. The article was updated early Thursday to indicate that “Tesla didn’t provide a statement before publication.”
In a call with investors last week, Musk indicated that he would be dedicating more time to Tesla, stepping back from his work with DOGE to prioritize the electric car maker. Musk has led the company for two decades, adding to his numerous business interests.
In addition to falling earnings and potential supply chain challenges due to tariffs, Tesla has faced various protests at its showrooms nationwide, with demonstrators voicing concerns over Musk's leadership and his work with DOGE, which has involved significant layoffs and cuts within the federal government.
Denholm supported Musk in her post on X, signaling that he would continue in his role for the foreseeable future.
“The CEO of Tesla is Elon Musk and the Board is highly confident in his ability to continue executing on the exciting growth plan ahead,” the post stated.
Rohan Mehta for TROIB News
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