Tesla CEO Elon Musk is pushing back against reports that the company’s board of directors is considering replacing him as CEO, amid a dismal earnings report that saw a 71% decline in profits and a $120 drop in stock value since Trump’s inauguration. The Wall Street Journal reported that Tesla had reached out to executive recruitment firms and warned Musk to refocus on the company.
Musk took to X to express his outrage, calling the WSJ article “a deliberately false report” and claiming that the board had not contacted recruitment firms. In a statement, Tesla Board Chairman Robyn Denholm confirmed this, stating that there was no truth to the claims.
The recent slump in earnings has raised concerns about Musk’s ability to lead the company, with his attention split between Tesla and other ventures. However, Musk seems determined to fight back, using his platform to criticize the WSJ and deny any plans for a CEO replacement.
Despite this, Musk’s efforts have not gone unnoticed, with many seeing it as a classic case of damage control. The situation has sparked concerns about Musk’s leadership and whether he is willing to put the interests of Tesla ahead of his own personal agenda.
Source: https://www.rollingstone.com/politics/politics-news/elon-musk-denies-tesla-replace-ceo-1235329306