Tesla's board dismisses news of CEO replacement, maintains faith in Musk's management.
In a move to quell rumours and maintain stability, Tesla's board of directors has officially denied reports that they are searching for a successor to CEO Elon Musk. The denial comes after a report by The Wall Street Journal suggested otherwise, sparking controversy and a strong rebuttal from Musk himself.
The Wall Street Journal report, which has since been removed, claimed that the board had contacted executive search firms last month to find a potential successor to Musk. However, Tesla's leadership, including chair Robyn Denholm, quickly refuted these claims, emphasizing that Elon Musk remains the CEO and is highly supported.
Robyn Denholm, in a statement posted on Tesla's official X account, strongly pushed back against the report, stating that the board had informed The Wall Street Journal prior to publication that the claims were inaccurate. She reaffirmed the board's strong support for Musk as CEO and denied any plans to replace him.
Musk expressed his disagreement with the report, referring to it as "an EXTREMELY BAD BREACH OF ETHICS" and a "DELIBERATELY FALSE ARTICLE." He also accused the Wall Street Journal of publishing the report with poor ethics, further emphasizing his disagreement.
The denial follows a report in The Wall Street Journal that claimed Tesla's board had met with Musk personally, asking him to spend more time at Tesla and to publicly reassure investors. The report also highlighted growing concerns over Musk's political involvement and the company's recent financial performance.
Despite the controversy, it appears that the board is determined to keep Musk as the company's leading executive for now. Shares of Tesla (TSLA) have risen on Thursday morning, up over 2% at the time of publication, suggesting a vote of confidence from investors.
The denial from Tesla's board comes amid a year of controversy surrounding Musk's leadership and public image. However, the board has maintained their support for Musk, citing his leadership and vision as crucial to the company's success.
In a statement, Musk spoke out against the report on Tesla's official X account, strongly condemning the Wall Street Journal's ethics. He reiterated his commitment to Tesla and his desire to continue leading the company.
In conclusion, Tesla's board of directors has denied launching a search for a successor to CEO Elon Musk, emphasizing their strong support for him and denying any plans to replace him. Despite controversy surrounding Musk's leadership and public image, it appears that the board is determined to keep him as the company's leading executive for now.
The Wall Street Journal's article about Tesla's board contacting executive search firms to find a successor to Elon Musk was found to be inaccurate, as Tesla's leadership openly refuted these claims. Despite periodic concerns about Musk's leadership and public image, the board's denial reflects their ongoing commitment to business leadership and technology empowerment, with Musk remaining at the helm of the company.
