Tesla Board denies the launch of Musk’s successor

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Roula Khalaf, publisher of the FT, selects her favorite stories in this weekly newsletter.

Tesla President Robyn Denholm denied a report that the Council sought to replace his CEO Elon Musk in response to plumage sales and a widespread reaction against his alliance with United States President Donald Trump.

“At the beginning of today, there was a media report that mistakenly claimed that the Tesla Council had contacted position In the account of the electric vehicle manufacturer on the X social network platform early on Thursday morning.

“This is absolutely false. The CEO of Tesla is Elon Musk and the Council is very confident in his ability to continue to execute the exciting growth plan.”

She responded to a flat Published a day earlier at the Wall Street Journal, who said that the Council had contacted Headhunters to recruit his successor after worrying about the time spent in Washington.

Tesla has been shake With Musk’s political activism and its promotion of conservative causes worldwide, which have reached sales in some of their most important markets and have caused protests to their dealerships and vandalism of their cars.

The benefit of the first quarter of the vehicle manufacturer caused 71 percent, emphasizing even the most pessimistic expectations, and Tesla lost its crown as the world’s largest EV manufacturer against the Chinese opponent byd. Their actions have fallen 30 percent since the start of the year, erasing more than $ 800 million from their market assessment

Last week, Musk leaned on the pressure of investors, pledged to “Significantly ‘scale His work as head of the so -called Government Efficiency Department (DOGE) (a position originally planned until 2026) and began to “assign much more of my time to Tesla”.

Musk, the richest man in the world, also divides his time between a business conglomerate, including the X social network platform, which recently merged with his Xai Artificial Intelligence Company, as well as Spacex and Neuralink.

Musk, whose nature had led clashes with members of the Trump Cabinet, has since largely abandoned his office near the White House, and he advises DOGE remotely, according to a person who knew this.

Trump’s Chief of Staff Susie Wiles told The New York Post Wednesday that Musk, “has not been (in the White House) physically, but it really does not matter much”, adding that he spoke to the billionaire regularly on the phone.