On Wednesday (local time), the Wall Street Journal reported that the Tesla board is searching for Elon Musk’s successor for the post of CEO of electric vehicles manufacturer Tesla.
Citing sources, WSJ reported that Tesla board has approached several executive search firms to look for a suitable successor for the company.
Tesla stock has been under pressure ever since Elon Musk joined US President Donald Trump administration as the head of DOGE (Department of Government Efficiency). Following the report of search for Musk’s replacement, the Tesla stock plunged 4% further.
How far the process of searching for Musk’s successor has reached is not yet known as per the report. It is also not certain whether Musk, who himself is a part of the board, is aware of the big move or not.
However, Tesla issued a swift denial of any such development.
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.
— Tesla (@Tesla) May 1, 2025
This is absolutely false (and this was communicated to the media before the report was published).
The CEO of Tesla is…
In their post on X, Tesla wrote, “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. This is absolutely false (and this was communicated to the media before the report was published).”
