Tesla has strongly denied reports suggesting that its board is searching for a new CEO to replace Elon Musk.
The company issued an official statement refuting claims that it had contacted executive search firms to initiate a leadership transition.
Tesla’s Chairman Robyn Denholm reaffirmed that Elon remains the CEO and that the board has full confidence in his ability to execute the company’s growth strategy.
The Origin of the CEO Search Rumors at Tesla
The speculation originated from a Wall Street Journal (WSJ) report, which claimed that Tesla’s board had begun discussions with recruitment firms to explore potential successors for Elon.
The report highlighted concerns about Elon’s involvement with the Trump administration.
Specifically, his role in the Department of Government Efficiency (DOGE) has caused unease among investors.
Elon responded to the claims on his social media platform X (formerly Twitter), calling the WSJ report a “discredit to journalism” and labeling it “deliberately false”.
Tesla’s Official Response
Tesla swiftly dismissed the rumors, stating that the CEO search claims were entirely false.
The company also clarified that this information had been communicated to the media before the report was published.
The company reiterated that Elon remains at the helm and is fully committed to Tesla’s future.
Robyn emphasized that the board is highly confident in Elon’s leadership, particularly as Tesla navigates market challenges and strategic expansions.
Investor Concerns and Market Impact
Despite Tesla’s denial, the rumors briefly impacted Tesla’s stock, which saw fluctuations following the WSJ report.
Investors have expressed concerns over Musk’s divided focus, given his leadership roles at Tesla, SpaceX, Neuralink, and X.
Elon recently announced that he would reduce his involvement in governmental affairs.
He also stated that he would dedicate more time to Tesla, aiming to reassure stakeholders.
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