Musk Refutes WSJ Article Claiming Tesla Board is Looking for His Replacement
Elon Musk has dismissed a report from the Wall Street Journal as “deliberately false,” which claimed that Tesla’s board is considering a change in CEO for the electric car manufacturer. The Wall Street Journal alleged, referencing anonymous...
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Elon Musk has dismissed a report from the Wall Street Journal as “deliberately false,” which claimed that Tesla’s board is considering a change in CEO for the electric car manufacturer.
The Wall Street Journal alleged, referencing anonymous sources, that approximately a month ago, the Tesla board contacted several executive search firms to initiate a formal search for a new CEO. According to the report, the board became increasingly concerned after a significant decline in Tesla's stock and growing frustration among investors regarding Musk's attention to his role as the head of the Department of Government Efficiency.
In response to the report, Tesla Chair Robyn Denholm issued a statement that labeled the claim “absolutely false.” She emphasized, “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.”
Musk took to his X platform on Thursday to voice his discontent with the report, asserting that it exemplifies “an extremely bad breach of ethics that the Wall Street Journal would publish a deliberately false article.” He criticized the publication for not including the Tesla board’s “unequivocal denial” concerning the search for a new CEO.
In another statement, Musk referred to the Wall Street Journal as a “discredit to journalism.”
Tesla's financials took a hit, experiencing a 71% drop in profits alongside a 9% decline in revenue during the first quarter of 2025. This time coincided with Musk becoming a more divisive figure due to his close relationship with US President Donald Trump and his leadership role in the DOGE, an agency focused on reducing government expenditures.
Since January, there have been numerous protests linked to Tesla, which Musk asserts are part of a coordinated campaign funded by prominent Democratic donors. Additionally, the company has faced violent incidents, including arson attempts targeting its dealerships, vehicles, and charging stations.
A week prior, Musk announced plans to reduce his government involvement, stating that the “major work” for establishing DOGE has now been completed. During a cabinet meeting on Wednesday, Trump expressed appreciation for Musk’s contributions, saying, “you know you are invited to stay as long as you want... I guess he wants to get back home to his cars.”
Debra A Smith for TROIB News
The Wall Street Journal alleged, referencing anonymous sources, that approximately a month ago, the Tesla board contacted several executive search firms to initiate a formal search for a new CEO. According to the report, the board became increasingly concerned after a significant decline in Tesla's stock and growing frustration among investors regarding Musk's attention to his role as the head of the Department of Government Efficiency.
In response to the report, Tesla Chair Robyn Denholm issued a statement that labeled the claim “absolutely false.” She emphasized, “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.”
Musk took to his X platform on Thursday to voice his discontent with the report, asserting that it exemplifies “an extremely bad breach of ethics that the Wall Street Journal would publish a deliberately false article.” He criticized the publication for not including the Tesla board’s “unequivocal denial” concerning the search for a new CEO.
In another statement, Musk referred to the Wall Street Journal as a “discredit to journalism.”
Tesla's financials took a hit, experiencing a 71% drop in profits alongside a 9% decline in revenue during the first quarter of 2025. This time coincided with Musk becoming a more divisive figure due to his close relationship with US President Donald Trump and his leadership role in the DOGE, an agency focused on reducing government expenditures.
Since January, there have been numerous protests linked to Tesla, which Musk asserts are part of a coordinated campaign funded by prominent Democratic donors. Additionally, the company has faced violent incidents, including arson attempts targeting its dealerships, vehicles, and charging stations.
A week prior, Musk announced plans to reduce his government involvement, stating that the “major work” for establishing DOGE has now been completed. During a cabinet meeting on Wednesday, Trump expressed appreciation for Musk’s contributions, saying, “you know you are invited to stay as long as you want... I guess he wants to get back home to his cars.”
Debra A Smith for TROIB News
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