Elon Musk and Tesla have responded strongly to recent claims about a CEO search, branding the report as “absolutely false” and a “extremely bad breach of ethics.”
According to The Wall Street Journal, Tesla’s board allegedly initiated a search for Musk’s successor about a month ago by contacting several executive recruiting firms.
The report cited sources familiar with internal discussions and highlighted the backdrop of declining Tesla stock prices which had led some investors to express dissatisfaction with Musk’s involvement in the Department of Government Efficiency (DOGE).
As the search reportedly progressed, the board focused on one prominent search firm while also engaging Musk in discussions about increasing his public commitment to the company—a request he reportedly accepted without objection, according to the Journal’s sources.
Robyn Denholm, chair of Tesla’s board, took to X this morning to assert that “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.”
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Denholm added, “Earlier today, there was a media report erroneously claiming that the Tesla Board had contacted recruitment firms to initiate a CEO search at the company.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 282.16 | -9.87 | -3.38% |
“This is absolutely false (and this was communicated to the media before the report was published),” she stated.
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Musk expressed his outrage on social media, stating, “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!”
He further criticized the publication, calling the WSJ “a discredit to journalism.”
In its latest earnings report, Tesla disclosed a significant decrease in automotive revenue, totaling $13.97 billion for the first quarter of 2025, a nearly 20% decline from the same period last year.
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During a recent earnings call, Musk indicated that his commitment to DOGE projects will diminish considerably.”
Finance Newso Business’ Aislinn Murphy contributed to this report.
