The chairman of Tesla, Robyn Denholm, denied a report by Wall Street Journal on Thursday, in which the board members had made on search companies of managers to find a replacement for CEO Elon Musk.
The journal had reported on Wednesday that Tesla’s board members had made several search companies from Executive about a month ago to find a new CEO who was familiar with the discussions.
Denholm described the report “absolutely wrong” and said on X that the board of the EV Makers Board is “extremely confident” in the ability of Musk to “continue the exciting growth plan”.
Musk said about X, the report was a “deliberately wrong article”. Active investors have long accused Tesla’s board of being independent and not contaminating Musk.
Tesla is at one crucial point. Musk has weakened his promise to make a new, affordable EV platform to exclude driverless taxis and humanoid robots, and highlights the future of Tesla as a visual and robotics company and not as a car manufacturer.
However, the shares have been slipping for months, since their EV sales in the USA and Europe have decreased in a counter-reaction to its hugs of right-wing extremist politics and have started to accommodate market shares with newer models.
Musks role in the Trump administration, which monitors the efforts to reduce federal jobs, has led to considerable resentment in the United States that his work on the Department of Government Efficiency (Doge) was one of the most controversial aspects of the Trump Presidency.
The role also took up a large part of the billionaire period. Musk said on Wednesday that he worked on Doge seven days a week in the first months of the administration and at times slept in the Lincoln bedroom at the invitation of Trump.
Elon Musks Tesla Stock Value scored another goal on Thursday, even though “Trump Bump” in the White House on Tuesday. The US President presented the EVS of the billionaire and the top consultant on the lawn. The move was widely seen as an effort to strengthen Tesla’s final result. The financial analyst Dan Ives joins Dan Burritt from Dan Burritt from CBC to disassemble what happens to Tesla.
Musk said reporters on Wednesday that he would spend one to two days with doge-related work every week and that he would be less often in Washington.
Questions about the Tesla brand
The political change has led to protests against Musk and the company as well as vandalism in its exhibition rooms and charging stations in the USA, Europe and Canada.
The Tesla shares were slightly up on Thursday on Thursday on Thursday. The company’s stock value reached a high in December, but has more than halved since then.
The board members met Musk and asked him to recognize publicly that he would spend more time at Tesla, according to the WSJ report.
It was unclear whether Musk – also a member of the board – was aware of the succession planning or whether his promise to spend more time at Tesla, influenced efforts, the report says.
A large part of the company’s assessment is based on this vision, and some investors say that Trump continues. Last week, the federal supervisory authorities made it easier for the testing of autonomous vehicles and increased Tesla’s shares.
Some Tesla directors, including the co-founder JB Straubel, have met with great investors to assure them that the company is in good hands, said the WSJ.
Denholm, handpicked by Musk, whose controversial salary package she defended, has drawn criticism for her own pay package, together with questions whether this affected her supervision of Tesla and Musk. Denholm rejected the allegations and a spokesman said her payment was fair.
In March, according to a supervisory authority, Denholm sold the shares of the electric car manufacturer of around 33.7 million dollars.
The eight-member Tesla board, to which Musk brother Kimbal and James Murdoch, son of the media mogul Rupert Murdoch, has an attempt to add an independent director, the report says.
