Tesla has publicly denied reports the US carmaker is looking to replace Elon Musk as CEO, saying its board is “highly confident” of Mr Musk’s ability to lead the company into the future.
Rebutting a report by The Wall Street Journal, the carmaker posted on social media site X – which Mr Musk purchased in 2022 – claiming the news was “absolutely false”.
Mr Musk also posted on X claiming the report was “a discredit to journalism”.
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The Wall Street Journal said ‘irritated’ investors – following recent Tesla stock price falls and slowing sales – saw the carmaker’s board ‘open a search’ for a new CEO.
It also cited Musk’s role in US president Donald Trump’s administration – due to end on May 30, 2025 – also saw investors demanding a new CEO, saying Musk had neglected the car maker while at The White Hours.
The carmaker has emphatically denied it is seeking a new CEO to replace Mr Musk, who has been in the role since 2008.
“There was a media report erroneously claiming that the Tesla Board had contacted recruitment firms to initiate a CEO search at the company,” Tesla chair Robyn Denholm wrote on X.
“This is absolutely false (and this was communicated to the media before the report was published).
“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.”
Earlier today, there was a media report erroneously claiming that the Tesla Board had contacted recruitment firms to initiate a CEO search at the company.
This is absolutely false (and this was communicated to the media before the report was published).
The CEO of Tesla is…
— Tesla (@Tesla) May 1, 2025
Mr Musk took to social media to criticise The Wall Street Journal report.
“It is an extremely bad breach of ethics that the WSJ would publish a deliberately false article and fail to include an unequivocal denial beforehand by the Tesla board of directors,” posted Mr Musk.
“It’s not that all WSJ stories are fake, but they are almost all mean-spirited and deceptive.”
It is an EXTREMELY BAD BREACH OF ETHICS that the @WSJ would publish a DELIBERATELY FALSE ARTICLE and fail to include an unequivocal denial beforehand by the Tesla board of directors! https://t.co/9xdypLGg3c
— Elon Musk (@elonmusk) May 1, 2025
Tesla’s latest earnings call reported a 66 per cent fall in operating income over the first three months of 2025, with total new vehicle deliveries down 13 per cent.It came after a backlash from Tesla owners worldwide, including in Europe and the US, where a number of protests critical of Mr Musk’s government took place
It also saw a record number of Tesla trade-ins recorded in the US.
In the first three months of 2025, Tesla Australia sales were down 59.6 per cent compared to the same period in 2024, yet the Model Y remains the best-selling electric vehicle in local showrooms.
