Tesla denied reports it had begun looking for a replacement for Elon Musk.
Transcript:
According to a new report by the Wall Street Journal, Tesla got serious about finding a new CEO to replace Elon Musk. The report says that in early April, Tesla’s board began reaching out to executive search firms to help begin the hunt for a new chief executive.
However, Tesla has pushed back on the Journal’s report — with company Chair Robyn Denholm posting on X “This is absolutely false (and this was communicated to the media before the report was published). 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.”
Tesla had a rough first quarter with Musk focusing more energy on DOGE. Both its top and bottom lines missed estimates, and revenue fell by 9% year-over-year. As of its Q1 close, shares of Tesla were down 41% since the start of 2025. However, Elon Musk has said that he intends to scale back the amount of time he spends with DOGE to focus on his businesses.
That’ll do it for your daily briefing. From New York City, I’m Kelsey Barberio with TheStreet.
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