Tesla chair denies report that EV maker seeks new CEO to replace Musk [View all]
Source: Reuters
Tesla Chair Robyn Denholm on Thursday denied a Wall Street Journal report that said board members about a month ago had reached out to several executive search firms to find a replacement for CEO Elon Musk.
Tesla shares rose 2.8% in early trading on Thursday after Denholm called the report "absolutely false" and said on X the EV maker's board is "highly confident" in Musk's ability to "continue executing on the exciting growth plan ahead."
The Journal said in a statement it stood by its reporting on Wednesday that the board was seeking a new CEO due to Musk's heavy involvement with President Donald Trump's administration, citing people familiar with the discussions. The Journal said the current status of the board's push could not be determined.
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Activist investors have long accused Tesla's board of lacking independence and failing to rein in Musk.
Read more: https://www.reuters.com/business/autos-transportation/tesla-board-opened-search-ceo-succeed-elon-musk-wsj-reports-2025-05-01/
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