Tesla denies reporting committee hopes to replace Elon Musk | Tesla

Tesla denied a report that the board tried to replace Elon Musk because its CEO opposed his right-wing politics and dropped car sales.

"Earlier today, a media report erroneously claimed that the Tesla board had contacted the recruiting company to launch the company's CEO search," said Robyn Denholm, chairman of the board of directors of the electric vehicle manufacturer, in a statement on Tesla's social media account.

"It's absolutely wrong (it was conveyed to the media before the report was released). Tesla's CEO is Elon Musk, whose board of directors has the ability to continue to implement exciting growth plans for the future."

Tesla CEO Elon Musk. Photo: Evelyn Hawkstan/Reuters

This comes after the story of The Wall Street Journal published Wednesday, claiming that “board members” have contacted the headhunter team and recruited successors about a month ago.

As Tesla's tensions have been reportedly being helped to cut down on declining profits and criticisms of Musk have been subjected to much of Washington's time, he has been helping Donald Trump cut down on the de facto head of the "Doge" Department of Government Efficiency.

It is unclear in the report whether the members act as collective on behalf of the board of directors, or just that some of them take steps to find a new CEO. Tesla's board of directors is composed of eight people, including Elon Musk himself, his brother Kimbal Musk and James Murdoch, son of media tycoon Rupert Murdoch.

Tesla has been hit by widespread opposition to Musk's recent political activity, not only opposing his work as a governor, but also his public support for Germany's far-right alternative ahead of the German national elections in February. Electric car sales have dropped in some of its biggest markets and political protests have been held in some of its showrooms.

Last week, the company reported a 71% decline in profits in the first quarter of this year to $1.39 billion in the same period in 2024, compared with $1.39 billion in the same period in 2024. Meanwhile, Tesla's stock suffered losses, and the company lost about a quarter of its market capitalization.

Musk told investors that from May, he will "distribute more of my time to Tesla." According to his service as a special government employee, he plans to leave Doge on May 30.

Skip the newsletter promotion

People have long been concerned about the demand for the Musk era. In addition to Tesla, he is also responsible for four other companies, including space exploration company SpaceX and social media platform X, formerly known as Twitter.

Musk condemned the Wall Street Journal report on Thursday. He wrote: "@WSJ will publish intentionally false articles, failing to reject the explicit denial of Tesla's board of directors in advance!"