Tesla Board, Musk Reject Reports of CEO Replacement Search

Elon Musk, the CEO of Tesla, has found himself in the spotlight once again due to a controversial report published recently. The report claimed that Tesla’s board has initiated a search for Musk’s replacement as Chief Executive Officer, citing his political activities and divided attention across multiple ventures. According to the report, recruitment firms have allegedly been approached to identify a new candidate to lead the electric vehicle giant.

Elon Musk responded publicly on X, condemning the article as baseless and unethical. He accused the publication of knowingly excluding a direct denial from the Tesla board that had been issued before the report’s release. Musk’s response was swift and unequivocal, stating, “It is an EXTREMELY BAD BREACH OF ETHICS that the publication would publish a DELIBERATELY FALSE ARTICLE and fail to include an unequivocal denial beforehand by the Tesla board of directors!”

Tesla board chair Robyn Denholm also issued an official statement on X through Tesla’s official account, strongly rejecting the narrative and claims. The post stated, “This is absolutely false.” It further added, “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.” Denholm highlighted that the media houses were informed in advance that no recruitment was done by the firm, yet the article was published without acknowledging the important denial. The swift responses from both Musk and the Tesla board aim to counteract market speculation and restore confidence.

The report comes at a time when Musk is facing increasing scrutiny for his political engagement, particularly his advisory role in the U.S. government Department of Government Efficiency. Critics argue that Musk’s involvement in partisan politics could be damaging to Tesla’s global image, especially in more neutral and progressive markets. Musk plays a leadership role at Tesla, SpaceX, Neuralink, and the recent merger of X and xAI has reportedly agreed to shift more of his attention back to Tesla. While he continues to advise the Department of Government Efficiency, he is said to have scaled back his physical presence in Washington to focus on Tesla’s strategic direction.

Musk’s backlash has also been joined by the crypto industry, with several prominent crypto leaders condemning and accusing the publication of biased and misleading coverage. This trend underscores rising tension between traditional media outlets and the DeFi community. On April 12, Binance CEO publicly rejected a report that alleged he had agreed to testify against Tron founder Justin Sun in a plea deal with the U.S. Department of Justice. The CEO criticized and wrote, “They seem to have forgotten who went to prison and who didn’t…” The crypto community has a history of condemning the publication’s coverage, with instances where Tether also denied the publication’s claims.

These reports clash from Musk and other top crypto figures signal a deepening rift between Web3 innovators and legacy media institutions. Overall, the Tesla leadership is unified in standing behind Elon Musk and against what irresponsible journalism describes.