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Tesla board is reportedly looking for new CEO to replace the billionaire Elon Musk as investors concern grow amid his over political indulgent with Trump administration.
The board members met Musk and asked him to acknowledge publicly that he would spend more time at Tesla, the report said.
Tesla CEO Hunt: Tesla board members about a month ago reached out to several executive search firms to find a successor for CEO Elon Musk, the Wall Street Journal reported on Wednesday, citing people familiar with the discussions.
The current status of the board’s push, which, according to the report, was sparked by Musk’s heavy involvement with the Trump administration, could not be determined, WSJ said.
Musk last week said he would cut back significantly the time he devotes to the Trump administration and spend more time running his many companies.
That follows widespread investor criticism for his work at the Department of Government Efficiency (DOGE), where he has led efforts to cut federal jobs, while sales of Tesla’s aging EV lineup have been on the decline.
His embrace of far-right politics in Europe has also led to protests against Musk and the company as well as vandalism at its showrooms and charging stations across the U.S. and Europe.
The board members met Musk and asked him to acknowledge publicly that he would spend more time at Tesla, the report said.
But it was unclear if Musk – also a member of the board – was aware of succession planning, or if his pledge to spend more time at Tesla has affected the efforts, the report added.
Tesla and Musk did not immediately respond to Reuters’ requests for comment.
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