Tesla New CEO: American Automative Company Tesla’s board of directors has reportedly initiated a search for a potential successor to the CEO Elon Musk, according to a report by The Wall Street Journal (WSJ), which cited sources familiar with the matter. The alleged move comes amid growing internal tensions following a sharp decline in Tesla’s profits and stock value, as well as mounting investor concerns over Musk’s increasing involvement in political activities.

However, just hours after the report was published, both Musk and Tesla issued strong denials. Musk responded angrily on social media, accusing The Wall Street Journal of an “EXTREMELY BAD BREACH OF ETHICS” and labeling the story a “DELIBERATELY FALSE ARTICLE.”

It is an EXTREMELY BAD BREACH OF ETHICS that the @WSJ would publish a DELIBERATELY FALSE ARTICLE and fail to include an unequivocal denial beforehand by the Tesla board of directors! https://t.co/9xdypLGg3c
— Elon Musk (@elonmusk) May 1, 2025

Tesla Chair Robyn Denholm also dismissed the claims, calling any suggestion of an active CEO search “absolutely false.” She reaffirmed the board’s full confidence in Musk, stating he remains focused on executing the company’s growth strategy.

Elon Musk, the world’s richest man, who openly supported Donald Trump during his campaign. Musk spent a whopping $250 million on Trump’s campaign last year. Musk has also been given a new role at the White House. He has been put in charge of the Department of Government Efficiency (DOGE), a team focused on cutting federal spending and making sure all US government departments work more efficiently.

Even though Elon Musk runs several big companies like SpaceX, Neuralink, xAI, and X (formerly Twitter), Tesla is still his most valuable business. But recent financial issues have raised concerns about who’s leading the company. 

Tesla reported a sharp 71% drop in earnings for the first quarter, with both sales and profits falling. After the earnings report, Musk said he would step away from his government role to focus more on running Tesla.