Tesla CEO Elon Musk has strongly denied a Wall Avenue Journal report suggesting the corporate’s board is searching for to switch him, because the EV big faces vital challenges following is disappointing first quarter. Musk referred to as the the Journal’s reporting a “DELIBERATELY FALSE ARTICLE” and “EXTREMELY BAD BREACH OF ETHICS.”
Elon Musk, the billionaire CEO of Tesla, has vehemently rejected a current Wall Avenue Journal report that claimed the corporate’s board of administrators is actively looking for his substitute. The report, revealed on Wednesday, alleged that Tesla’s board had begun reaching out to recruiting companies a few month in the past to formalize the method of discovering a brand new chief government. This improvement comes as the electrical car producer continues to grapple with huge challenges, as evidenced by its disastrous first-quarter earnings.
In response to the Journal‘s article, Tesla Chair Robyn Denholm took to X to dismiss the report as “completely false.” Denholm asserted that this data had been communicated to the media earlier than the report’s publication. She additional affirmed the board’s confidence in Musk, stating, “The CEO of Tesla is Elon Musk and the Board is extremely assured in his skill to proceed executing on the thrilling development plan forward.”
Curiously, SEC filings cited by Electrek reveal that Denholm herself offered over $32 million price of Tesla shares on Tuesday, fueling hypothesis about her personal future on the board.
Musk, not one to stay silent, echoed Denholm’s phrases whereas lambasting the Journal for publishing what he deemed a intentionally false article. He wrote on X, “It’s an EXTREMELY BAD BREACH OF ETHICS that the @WSJ would publish a DELIBERATELY FALSE ARTICLE and fail to incorporate an unequivocal denial beforehand by the Tesla board of administrators!” Nonetheless, the Journal’s report famous that Musk didn’t return their requests for remark previous to publication.
Tesla’s first-quarter monetary outcomes, launched final week, paint a troubling image for the corporate. Complete income for the primary three months of 2025 fell 9.4 p.c from the earlier 12 months, lacking Wall Avenue expectations by roughly $1.8 billion. Through the earnings name, Musk indicated that he would begin spending much less time working the so-called Division of Authorities Effectivity (DOGE), which has triggered vital disruption throughout the federal authorities in its efforts to dramatically downsize it.
Musk’s feedback appeared to align with a reported request by Tesla’s board a few month in the past, urging him to dedicate extra time to working the corporate and make that dedication identified publicly, based on the Journal. It seems that Tesla might have suffered as Musk prioritized his work for the Trump administration.
Throughout a Cupboard assembly on Wednesday, President Donald Trump praised Musk, a high surrogate for his 2024 marketing campaign, for his “unbelievable” work in authorities. Trump mentioned, “You actually have sacrificed lots, been handled very unfairly. You’re invited to remain so long as you need. Sooner or later, I assume, he needs to get again dwelling to his automobiles.”
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