Tesla's Board Dismisses CEO Speculation, Musk Condemns Unfounded Article
Tesla Denies Claims of CEO Succession Search
Tesla has denied reports suggesting that its board of directors is seeking a new CEO, with the denial issued via the company's official X account on Thursday. The denial comes in response to a media report claiming that the board had contacted recruitment firms to begin a CEO search.
The main board-related controversies focus on Elon Musk's pay packages and concerns about board independence, not a CEO change. Recently, Tesla's board has approved significant new equity awards for Musk, valued in the tens of billions, amid legal battles over earlier compensation plans. However, these actions are framed as efforts to retain Musk rather than replace him.
In a post on X, Tesla Chair Robyn Denholm stated that the CEO of Tesla is Elon Musk. The board is highly confident in Musk's ability to continue executing on the growth plan ahead. Elon Musk himself reposted Tesla's denial on X.
Musk expressed his displeasure with the Wall Street Journal (WSJ) for publishing the article without an unequivocal denial from the Tesla board of directors. He accused the WSJ of publishing a deliberately false article, citing it as an extremely bad breach of ethics.
Interestingly, the WSJ article did not include Tesla's official denial before publication. The article cited concerns about Musk's divided focus across multiple companies and Tesla's competitive challenges in the EV market as potential reasons for a CEO change.
It is worth noting that the links to the WSJ and Reuters articles are no longer available on the web. Tesla communicated its denial to the media outlet in question before the story was published, but it appears the media outlet chose to publish the article without waiting for Tesla's response.
In summary, the claim that Tesla's board is seeking a new CEO is false according to Tesla's denials. The main board-related controversies focus on Musk's pay packages and governance, not CEO succession.
Despite the Wall Street Journal's article suggesting a CEO change at Tesla, technology-driven business giant Tesla has refuted these claims. The company's board of directors, confident in Elon Musk's leadership, has emphasized its focus on finance and technology, rather than a CEO succession.
