Tesla's board chair has denied that the company ever considered replacing Elon Musk as CEO amid a stock price slump and global brand crisis sparked by his work at DOGE. Robyn Denholm said on Wednesday that the board had high confidence in the billionaire's leadership, after The Wall Street Journal reported that board members had searched for a new CEO.The Journal reported that as Tesla's stock price plunged in March and April amid collapsing sales and public blowback over Musk's work at DOGE, unnamed Tesla ...

Tesla has denied a report that its board sought to replace Elon Musk as its chief executive amid a backlash against his rightwing politics and declining car sales.Robyn Denholm, the chair of the board at the electric carmaker, said in a statement on Tesla’s social media account on X: “Earlier today, there was a media report erroneously claiming that the Tesla Board had contacted recruitment firms to initiate a CEO search at the company.“This is absolutely false (and this was communicated to the media before ...

Tesla CEO Elon Musk walks to board Air Force One with U.S. President Donald Trump (not pictured) as they depart for Philadelphia, Pennsylvania, from Morristown Municipal Airport in Morristown, New Jersey, U.S., March 22, 2025.Shares of Tesla fell as much as 3% in overnight trading on trading platform Robinhood, following reports that its board has opened a search for a chief executive to succeed Elon Musk.Tesla's board members reached out to several executive search firms to work on a formal process for fin ...

Core Insights - Tesla's board is reportedly seeking a successor for CEO Elon Musk due to concerns over his involvement with the Trump administration and its impact on the company [1][7] - Musk has indicated a commitment to reduce his time with the Trump administration to focus more on Tesla [2] - The board's discussions about succession planning have raised questions about Musk's awareness and influence on these efforts [7] Company Operations - Musk's role in the Trump administration, particularly in the Department of Government Efficiency, has been controversial and has raised investor concerns as Tesla's EV sales decline [3] - The company is facing increased competition and has shifted its focus from developing an affordable EV platform to advancing in AI and robotics, including driverless taxis and humanoid robots [8] - Recent regulatory changes easing rules for testing autonomous vehicles have positively impacted Tesla's stock [10] Board Dynamics - Some Tesla board members have been meeting with major investors to reassure them about the company's leadership amid concerns about Musk's influence [10] - Board chair Robyn Denholm has faced criticism regarding her pay package and the board's independence, which has been a long-standing issue among activist investors [11]

Core Insights - Tesla's board has initiated a search for Elon Musk's potential successor due to concerns over his divided attention and the company's declining performance [1][2] - Musk's involvement in government work has contributed to Tesla's first annual sales decline in over a decade, with the company's market value dropping from $1.5 trillion to approximately $900 billion [3] - Despite reporting a 71% profit decline and a 9% revenue drop, Musk remains optimistic about Tesla's future, assuring investors that the company is not in a critical state [4] Group 1 - The board's concerns about Musk's focus led to discussions about succession planning [1][2] - Musk's government activities have negatively impacted Tesla's brand image and sales performance [3] - The current status of the succession planning process is unclear, including Musk's awareness of it [4] Group 2 - Tesla's market value has significantly decreased, reflecting investor concerns [3] - The company reported a substantial decline in profits and revenue during the latest earnings call [4] - Musk's commitment to allocate more time to Tesla starting in May indicates a potential shift in focus [2]

Tesla's board members have reportedly started their search for someone to replace Elon Musk as CEO.Several executive search firms were approached to find a successor around a month ago, the Wall Street Journal reported. It said the current status of the succession planning for the electric car-maker wasn't known. Please use Chrome browser for a more accessible video player 1:36 Musk jokes about attacks on Tesla cars Musk's net worth has plunged and Tesla stocks have fallen amid a public backlash over h ...

Tesla (TSLA -3.08%) stock lost ground Wednesday amid a wild day of trading that saw the market sell off on first-quarter gross domestic product (GDP) data and then rebound following an indication that trade negotiations between the U.S. and China are underway. The company's share price fell 3.4% in the daily session and had been off as much as 7.4% earlier in trading.Despite the S&P 500 bouncing back from a big pullback and closing the day out up 0.1%, Tesla stock fell as investors concentrated on weaker-th ...

There's no doubt that investors can make millions of dollars by investing in electric car stocks. Just ask long-term holders of Tesla (NASDAQ: TSLA). Despite heavy ups and downs over the years, shares are up by more than 22,000% since 2010.Looking for the next Tesla? The two EV stocks below are for you.This EV maker should double its sales in 2025If you're looking for EV stocks with huge growth potential, start with Lucid Group (LCID -2.15%). Compared to the other stocks on this list, Lucid is growing the f ...

Tesla board chairwoman Robyn Denholm has sold another massive chunk of stock as the company’s shares get rocked by Elon Musk’s controversial ties with the Trump administration, regulatory filings revealed this week.Denholm, 61, sold 112,390 shares of Tesla worth more than $32 million, according to an SEC filing on Tuesday. Since December, Denholm has sold more than $150 million in stock, according to the electric car news blog Electrek.After the latest sales, Denholm owns about 85,000 shares and has 300,440 ...

The stock of Tesla (TSLA -5.27%) has been on a bit of a winning streak. Shares have soared by more than 15% in just the last week. That streak looks to be coming to an end today, though.Tesla stock was trading down 4.5% as of 11:40 a.m. ET on Wednesday, declining by over 7% at the morning low. The reason for the drop is expanding competition in the self-driving vehicle sector. A recent announcement could mean that Alphabet's Waymo and Toyota may soon be taking a bite out of Tesla's growth plans.Who's the re ...