Tesla has come out and refuted recent media reports which claimed that the company is looking for a successor to Elon Musk as its new CEO. Recent media reports have claimed Musk due to his heavy involvement in the Donald Trump administration. The American EV maker has now put out a Tweet refusing the rumours of Musk’s replacement as the company CEO.
The words in the latest post on Tesla’s X handle were penned by Tesla chair Robyn Denholm who denied a Wall Street Journal report that said board members had reached out to executive search firms to find a new replacement for CEO Elon Musk. The WSJ had reported on Wednesday that Tesla’s board members had reached out about a month ago to several executive search firms to find the company’s new CEO.
Denholm stated on X that the report was “absolutely false” and emphasized that Tesla’s board remains “highly confident” in Elon Musk’s ability to “continue executing on the exciting growth plan ahead.” Musk also dismissed the report on X, calling it a “deliberately false article.”
Last week, Musk announced he would significantly reduce the time he spends on matters related to the Trump administration and focus more on leading Tesla. Musk’s role at the Department of Government Efficiency (DOGE), where he has spearheaded efforts to eliminate federal jobs, has been one of the more controversial elements of the Trump presidency. His absence from Tesla has worried investors, particularly as the company faces declining sales of its aging electric vehicle lineup.
Additionally, Musk’s alignment with far-right politics in Europe has sparked protests and acts of vandalism targeting Tesla showrooms and charging stations across both the U.S. and Europe. According to a report by The Wall Street Journal, Tesla board members met with Musk and urged him to publicly commit to prioritizing his role at the company.
However, the report also noted uncertainty around whether Musk—who sits on the board himself—was involved in succession planning or whether his renewed focus on Tesla has had any impact on such discussions. In response, Musk retweeted a post rejecting the claims and denounced the report as an “EXTREMELY BAD BREACH OF ETHICS.”
Tesla at a Critical Crossroads
As global competition intensifies, Musk has shifted away from plans to develop a new, affordable EV platform. Instead, he is now focusing on launching autonomous taxis and humanoid robots, signaling a future where Tesla positions itself as an AI and robotics company rather than solely an automaker.
Much of Tesla’s market valuation hinges on this forward-looking vision, and some investors believe Trump’s political support could help accelerate it. Just last week, federal regulators relaxed restrictions on autonomous vehicle testing, which led to a rise in Tesla’s stock price. Meanwhile, several Tesla board members, including co-founder JB Straubel, have been meeting with major investors to reassure them of the company’s stability and direction, according to the WSJ.
With inputs from Reuters
