Elon Musk Refutes Report Tesla Is Looking For New Ceo Amid Falling Profits

Elon Musk refuted a Wall Street Journal study published connected Wednesday, April 30, that said nan Tesla committee was looking to switch him arsenic its CEO. Musk connected Thursday, May 1, called nan article “deliberately false.”

“It is an EXTREMELY BAD BREACH OF ETHICS that The Wall Street Journal would people a DELIBERATELY FALSE ARTICLE and neglect to see an unequivocal denial beforehand by nan Tesla committee of directors,” Musk wrote successful a station connected X, nan societal media level he owns.

He quote-tweeted a connection by Tesla chair Robyn Denholm that besides denied nan report.

“Earlier today, location was a media study erroneously claiming that nan Tesla Board had contacted recruitment firms to initiate a CEO hunt astatine nan company,” Denholm wrote. “This is perfectly mendacious (and this was communicated to nan media earlier nan study was published).”

Denholm added, “The CEO of Tesla is Elon Musk and nan Board is highly assured successful his expertise to proceed executing connected nan breathtaking maturation scheme ahead.”

The denials came aft The Wall Street Journal wrote Tesla committee members were earnestly looking into uncovering Musk’s successor.

Investors and committee members cited his deficiency of attraction to nan institution arsenic he continues moving pinch nan Trump management to slash nan national workforce and trim what they spot arsenic authorities discarded done nan Department of Government Efficiency, aliases DOGE.

Why nan backlash?

DOGE attempted to shutter national agencies and oversaw nan layoffs of tens of thousands of national employees.

Sources acquainted pinch nan matter said nan automaker’s committee of 8 contacted respective executive hunt firms to statesman nan process of uncovering a caller CEO, The Wall Street Journal reported. The publication said Musk ne'er responded erstwhile asked for comment. 

Musk’s activity pinch nan Trump management prompted world disapproval and protests arsenic good arsenic boycotts against his cars. Last week, Tesla revealed its first 4th profit missed expectations by 71%, falling astir $570 cardinal short of projections.

Musk’s beingness astatine Tesla

In nan aftermath of nan profit drop, Musk vowed to walk much clip astatine Tesla this month, The Wall Street Journal said.

President Donald Trump acknowledged astatine a caller furniture gathering that Musk wants to get backmost to Tesla, but emphasized he is ever invited backmost astatine nan White House.

Despite his lukewarm narration pinch Trump, Musk continually sparred pinch White House waste and acquisition advisor Peter Navarro complete nan administration’s rollout of tariffs, peculiarly connected China, wherever Trump implemented tariffs connected immoderate equipment of up to 245%.

Tesla has awesome business ties successful some Beijing and nan United States.

Musk’s belief

While Tesla faces caller financial obstacles, Musk reportedly believes nan institution will yet prevail pinch early investments successful artificial intelligence, self-driving taxis and robotics.

Critics noted that if Musk focuses much connected Tesla and removes himself from DOGE efforts, it could wounded nan Trump administration’s efforts to downsize nan national government.