Tesla Denies Report Of Board Plan To Replace Elon Musk

Tesla has denied a report that the company had launched a search process for a new CEO to potentially replace Elon Musk. The Wall Street Journal reported Wednesday that Tesla's board initiated a search for a potential successor to the billionaire last month. Tesla chair Robyn Denholm called the report "absolutely false" and said on X the firm's board is "highly confident" in Elon Musk's ability to "continue executing on the exciting growth plan ahead."

Elon Musk recently said that he will be allocating more of his time to Tesla and pledged to "significantly" cut back his role in the US government. Musk criticised the Wall Street Journal's reporting and called it a "deliberately false article". Meanwhile, the Wall Street Journal, in a statement, said it stands by its reporting. "Tesla was given the opportunity to provide a statement before publication, which they did not do," a WSJ spokesperson said, as quoted by Axios.

Elon Musk's role in Donald Trump's US administration has attracted a lot of criticism in recent weeks. Musk-owned Tesla's vehicle sales saw a significant 13% decrease in the first quarter of 2025, marking the EV maker's poorest performance since 2022.