Tesla has dismissed reports about seeking a replacement for CEO Elon Musk, calling the claims baseless. The electric car company issued this statement on Thursday (May 1) in response to a report by the Wall Street Journal, according to British media outlet BBC.
The Wall Street Journal reported on Wednesday that Musk has been spending less time at Tesla due to his increased focus on U.S. political affairs, particularly with former President Donald Trump’s administration. The report also mentioned internal dissatisfaction with Musk’s failure to improve Tesla’s declining stock value, prompting discussions within the company about finding a new CEO.
In response, Tesla firmly rejected the report, stating it is completely false. Tesla Chair Robyn Denholm wrote on social media platform X that there was no contact with any recruitment firm to find a new CEO. She emphasized, “We have full confidence in Elon Musk’s leadership. His vision is crucial for Tesla’s future growth.”
The Wall Street Journal report also claimed, citing anonymous sources, that Tesla’s board had advised Musk to dedicate more time to the company and announce this publicly. It said Musk agreed with the suggestion.
Last week, Musk stated in a virtual meeting that he has decided to reduce his involvement in government affairs and dedicate more time to Tesla.
Despite any possible internal discussions with the board, Musk was reportedly displeased with the Wall Street Journal article. On Thursday, he criticized the publication on X, accusing it of publishing fake news with false information. He also questioned the outlet’s journalistic integrity, stating that the article lacked any quotes from Tesla board members and was a poor example of sensationalist journalism.