'Absolutely false': Tesla chair Robyn Denholm denies board search for Musk successor
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More news: Tesla chair Robyn Denholm has rejected a report by the Wall Street Journal that the company's board had begun searching for a successor for CEO Elon Musk.
In a post on X from Tesla's account, Denholm said the media report "erroneously" claimed Tesla's board had contacted recruitment firms to initiate the CEO search.
"This is absolutely false (and this was communicated to the media before the report was published)," Denholm wrote.
"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."
Tesla board opened search for CEO to succeed Elon Musk: WSJ
The news: Tesla board members reached out to several executive search firms last month to find a successor for CEO Elon Musk, the Wall Street Journal reported, citing people familiar with the discussions.
The context: With Tesla shares tumbling and Musk focused on his new role at the White House, company board members told him he needed to spend more time on the electric car maker, the WSJ reported.
Last week, Musk told investors he would be allocating "far more" time to Tesla, after the company reported a 71% drop in first-quarter profit.
The current status of the succession planning could not be determined, the WSJ said.
Overnight, Donald Trump praised Musk during a cabinet meeting. You know you’re invited to stay as long as you want,” the US president said. “I guess he wants to get back home to his cars.”
