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ELON MUSK TO STAY TESLA CEO FOR YEARS, COMPANY DENIES REPLACEMENT RUMORS
Techlife News
|May 03, 2025
Tesla has firmly denied reports suggesting its board sought to replace CEO Elon Musk, with Chairwoman Robyn Denholm calling such claims “absolutely false” this week, as reported by Benzinga.
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Wedbush Securities analyst Dan Ives supported this stance, asserting Musk will remain CEO for at least five years, citing his recent commitment to refocus on the company.
For Tesla investors, employees, and industry observers, the rebuttal addresses concerns sparked by a Wall Street Journal article alleging the board contacted executive search firms in March 2025 to find a successor amid financial struggles and Musk’s political activities.
The rumors emerged after Tesla reported a 71% profit drop to $409 million in Q1 2025, alongside a 45% stock decline earlier this year, driven by sales challenges and backlash over Musk’s role in the Trump administration’s Department of Government Efficiency (DOGE).
Musk announced during Tesla’s earnings call that he would significantly reduce his DOGE involvement starting in May to prioritize Tesla’s AI and autonomous driving initiatives, including robotaxis and Optimus robots.
The company’s swift denial, echoed by Musk’s criticism of the WSJ report as a “deliberately false article,” aims to stabilize investor confidence as Tesla navigates a pivotal moment in its growth trajectory. TESLA’S OFFICIAL DENIAL OF CEO SEARCH
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