Tesla is shutting down rumors with force, A Wall Street Journal article shook things up on the 1st of May, 2025, claiming Tesla’s board was quietly searching for Elon Musk’s replacement.
According to the report, board members had reached out to executive search firms to begin a formal CEO hunt.
The reaction was swift Tesla’s stock dipped up to 3% overnight.
Premarket trading on the 1st of May, showed little movement, but the buzz lingered.
READ ALSO: Trump Open to Elon Musk Buying TikTok, Calls for US Stake
Then came the pushback. Tesla chair Robyn Denholm posted on X, calling the report “absolutely false.”
She wrote: “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 the report was published).
“The CEO of Tesla is Elon Musk and the Board is highly confident in his ability to continue executing on the exciting growth plan ahead.”
This statement lands just weeks after Musk hinted that his ties to Donald Trump might be weighing on Tesla’s market performance.
So, for now, there’s no boardroom coup. Just another day of Musk staying in charge.