## Tesla Board Refutes Report of CEO Replacement Search, Backs Elon Musk
Tesla’s board of directors has vehemently denied a *Wall Street Journal* report claiming they initiated a search for a new CEO to replace Elon Musk. The denial, posted on Musk’s social platform X, calls the report “absolutely false.”
The *WSJ* report, published recently, alleged that Tesla’s board began exploring potential successors to Musk roughly a month ago. This reportedly included reaching out to multiple executive search firms and even narrowing down the selection to a leading candidate. The report also stated that the board conveyed to Musk the need to dedicate more time to Tesla and less to other ventures, a message he seemingly echoed in last week’s earnings call by promising increased focus on Tesla starting in May. This purported intervention comes amidst concerns about slumping sales, declining revenue, and a perceived brand crisis linked to Musk’s increasingly public engagements, including his involvement with Donald Trump.
However, Tesla swiftly responded with a firm rebuttal. Board chair Robyn Denholm published a statement on X expressing the board’s “highly confident” in Musk’s leadership. She specifically denied the CEO search and claimed this denial was communicated to the media *before* the *WSJ* published its report. Musk himself later took to X, accusing the newspaper of an “EXTREMELY BAD BREACH OF ETHICS” and claiming they received an “unequivocal denial” beforehand.
The *WSJ* maintains that it contacted Musk for comment prior to publication but received no response. They have since updated their report to emphasize that they did not receive any statement from Tesla before going to press.
This denial throws a wrench into the narrative of internal pressure mounting on Musk. Tesla’s board, comprised of eight members including Musk himself, his brother Kimbal Musk, and James Murdoch, has faced criticism in the past. They have been described as “full of sycophants” and “overly beholden to CEO Musk,” especially following last year’s efforts to secure Musk’s massive compensation package.
Adding another layer to the intrigue, despite expressing confidence in Musk, Robyn Denholm recently sold over $32 million worth of Tesla shares – her third major sale in as many months. This raises questions about her long-term commitment to the company, even as she publicly supports its current leadership.
**Update, May 1st:** *The article was updated to include The Wall Street Journal’s note that it did not receive any statement from Tesla prior to publication.*