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Tesla has denied a report claiming its board sought executive search firms to find a successor for CEO Elon Musk. Board chair Robyn Denholm stated the report was "absolutely false," emphasizing confidence in Musk's leadership amid investor concerns over his focus on other projects. Musk criticized the Wall Street Journal for not including the board's denial before publication, alleging ethical breaches in their reporting.
Tesla chair Robyn Denholm denied reports that the board was seeking a replacement for CEO Elon Musk, calling the claims "absolutely false." Despite the denial, the Wall Street Journal suggested that the board had considered a CEO search amid concerns over Musk's focus on the company, especially following a decline in auto sales and brand reputation linked to his political activities. Tesla's first quarter deliveries were the lowest since mid-2022, with revenue down 9% and profit dropping over 70%.
Tesla's board has initiated the search for a new CEO to replace Elon Musk, who is concluding his role as a "special government employee" at the White House. This development follows a report from the Wall Street Journal highlighting the board's actions last month.
Elon Musk and Tesla's board have denied rumors of a CEO replacement amid declining sales and investor concerns over Musk's political involvement. Despite a 71% drop in first-quarter profits and a 30% decline in stock this year, the board remains confident in Musk's leadership as he plans to refocus on Tesla operations.
Elon Musk revealed his experiences during overnight stays at the Trump White House, including indulging in an entire tub of caramel Häagen-Dazs ice cream. As head of the Department of Government Efficiency (DOGE), he has played a key role in cutting federal spending, achieving $160 billion in savings, while planning to reduce his involvement in the administration. Musk's government status is set to end on May 30, but he will remain a part-time adviser to Trump.
Elon Musk revealed that he occasionally stayed in the White House's Lincoln Bedroom at Donald Trump's invitation, often after late-night travels. During a Q&A, he discussed his role in the DOGE initiative, acknowledging its challenges and the need for continued efforts to achieve its ambitious budget-cutting goals. Despite setbacks, Musk remains committed to the project, emphasizing its long-term vision.
Elon Musk plans to visit India later this year following discussions with Prime Minister Narendra Modi about collaboration in technology and innovation. Amidst ongoing legal disputes over content censorship involving Musk's platform X, his ventures, including Tesla and Starlink, aim to enhance India's infrastructure and digital connectivity. Despite challenges, Musk's investments could significantly support India's ambitions in electric mobility and satellite Internet access.
Elon Musk reacted furiously to reports that Tesla's board is seeking a replacement for him amid plummeting sales and profits. He condemned the Wall Street Journal for publishing what he called a "deliberately false article," while board chair Robyn Denholm expressed confidence in Musk's leadership. Despite their denials, the situation reflects a company in turmoil, with Musk's controversial behavior impacting Tesla's brand and investor confidence.
Elon Musk has criticized the $2.5 billion renovation of the Federal Reserve building, questioning the high costs associated with what he describes as "redecorating." He argues that such expenditures should be scrutinized as part of a broader examination of government waste, despite the Fed's funding structure not relying on taxpayer money. The renovation aims to modernize the facility and improve efficiency, but Musk's comments highlight concerns over transparency and accountability in government spending.
Tesla's board is reportedly upset over a Wall Street Journal article suggesting they are seeking a replacement for CEO Elon Musk amid declining sales and investor dissatisfaction. Board chair Robyn Denholm and Musk vehemently denied the claims, highlighting rising tensions within the company as Musk's controversial leadership continues to alienate customers and investors. Denholm's recent stock sales further fuel speculation about the board's confidence in Musk's future.
Tesla, Inc.
Companies
| Symbol | TSLA |
| Name | Tesla, Inc. |
| Currency | USD |
| Sector | Consumer Discretionary |
| IndustryGroup | Automobiles & Components |
| Industry | Automobiles |
| Market | NASDAQ Global Select |
| Country | United States |
| State | CA |
| City | Palo Alto |
| Zipcode | 94304 |
| Website | http://www.tesla.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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