{"id":82147,"date":"2025-04-30T22:27:13","date_gmt":"2025-05-01T02:27:13","guid":{"rendered":"http:\/\/autosector.com\/?p=82147"},"modified":"2025-04-30T22:27:13","modified_gmt":"2025-05-01T02:27:13","slug":"tesla-board-is-reportedly-floating-replacing-elon-musk-as-ceo","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=82147","title":{"rendered":"Tesla board is reportedly floating replacing Elon Musk as CEO"},"content":{"rendered":"<figure class=\"img-border featured-image\">\n\t<img fetchpriority=\"high\" width=\"1600\" height=\"800\" src=\"https:\/\/electrek.co\/wp-content\/uploads\/sites\/3\/2024\/01\/elon-godfather.jpg?quality=82&amp;strip=all&amp;w=1600\" class=\"skip-lazy wp-post-image\" alt=\"\" srcset=\"https:\/\/i0.wp.com\/electrek.co\/wp-content\/uploads\/sites\/3\/2024\/01\/elon-godfather.jpg?w=320&amp;quality=82&amp;strip=all&amp;ssl=1 320w, https:\/\/i0.wp.com\/electrek.co\/wp-content\/uploads\/sites\/3\/2024\/01\/elon-godfather.jpg?w=640&amp;quality=82&amp;strip=all&amp;ssl=1 640w, https:\/\/i0.wp.com\/electrek.co\/wp-content\/uploads\/sites\/3\/2024\/01\/elon-godfather.jpg?w=1024&amp;quality=82&amp;strip=all&amp;ssl=1 1024w, https:\/\/i0.wp.com\/electrek.co\/wp-content\/uploads\/sites\/3\/2024\/01\/elon-godfather.jpg?w=1500&amp;quality=82&amp;strip=all&amp;ssl=1 1500w\" decoding=\"async\" fetchpriority=\"high\"\/><\/figure>\n<p>According to a new report from The Wall Street Journal, Tesla\u2019s board has taken steps toward potentially seeking a new CEO to replace Elon Musk.<\/p>\n<p><span id=\"more-413666\"\/><\/p>\n<p>To say the least, Tesla\u2019s board of directors has been extremely favorable to Elon Musk, Tesla\u2019s largest single shareholder and long-time CEO.<\/p>\n<p>They have backed his every move, granted him <a href=\"https:\/\/electrek.co\/2025\/03\/24\/tesla-net-income-less-than-elon-musk-55b-compensation-package\/\" target=\"_blank\" rel=\"noreferrer noopener\">a $55 billion CEO compensation package<\/a>, and remained silent when <a href=\"https:\/\/electrek.co\/2024\/05\/20\/elon-musk-confirms-threat-give-me-25-of-tesla-or-no-ai-robotics\/\" target=\"_blank\" rel=\"noreferrer noopener\">he threatened Tesla shareholders that he would not develop AI products at Tesla<\/a> unless given a larger, more controlling share of the company, or decided to <a href=\"https:\/\/electrek.co\/2024\/05\/28\/rehired-tesla-supercharger-manager-beautifully-explains-why-came-back\/\">fire Tesla\u2019s entire charging team to make an example out of the head of the team<\/a>.<\/p>\n<p>Tesla\u2019s then-third-largest individual shareholder, after Musk, Leo KoGuan, told <em>Electrek<\/em> last year that <a href=\"https:\/\/electrek.co\/2024\/01\/30\/tesla-biggest-investor-family-business-masquerading-public-company\/\">he couldn\u2019t get his concerns about Musk heard by the board<\/a>.<\/p>\n<p>\t<span class=\"outbrain-ad-label\">Advertisement &#8211; scroll for more content<\/span><\/p>\n<p>Most recently, they have not addressed <a href=\"https:\/\/electrek.co\/2025\/03\/31\/elon-musk-loses-mind-over-tesla-protests-claims-paid-protestors-dumb-proof\/\" target=\"_blank\" rel=\"noreferrer noopener\">the protests at Tesla stores and product boycotts<\/a>, which are attributed to Musk\u2019s involvement in politics, angering a significant portion of the population and Tesla\u2019s consumer base.<\/p>\n<p>Many people, including myself, deduced from the board\u2019s silence that it did not plan to take action against Musk\u2019s negative impact on the brand.<\/p>\n<p>Now, a new report from <a href=\"https:\/\/www.wsj.com\/business\/autos\/tesla-musk-ceo-search-board-0ce61af9\" target=\"_blank\" rel=\"noreferrer noopener\">The Wall Street Journal<\/a> suggests that the board started to move against Musk for the first time last month.<\/p>\n<p>The report brings several new information to light. Here are the main points with quotes from WSJ:<\/p>\n<ul class=\"wp-block-list\">\n<li>According to unnamed sources, Tesla\u2019s board reached out to executive search firms to look for a new CEO:\n<ul class=\"wp-block-list\">\n<li>\u201cBoard members reached out to several executive search firms to work on a formal process for finding Tesla\u2019s next chief executive, according to people familiar with the discussions.\u201d<\/li>\n<\/ul>\n<\/li>\n<li>The board reportedly met with Musk and asked him to spend more time on Tesla:\n<ul class=\"wp-block-list\">\n<li>\u201cAround that time, Tesla\u2019s board met with Musk for an update. Board members told him he needed to spend more time on Tesla, according to people familiar with the meeting. And he needed to say so publicly.\u201d<\/li>\n<\/ul>\n<\/li>\n<li>After Musk committed to spending more time at Tesla, it\u2019s not clear what is the current status of the search for a potential new CEO:\n<ul class=\"wp-block-list\">\n<li>\u201cThe board narrowed its focus to a major search firm, according to the people familiar with the discussions. The current status of the succession planning couldn\u2019t be determined. It is also unclear if Musk, himself a Tesla board member, was aware of the effort, or if his pledge to spend more time at Tesla has affected succession planning. Musk didn\u2019t respond to requests for comment.\u201d\u00a0<\/li>\n<\/ul>\n<\/li>\n<li>Additionally, Tesla\u2019s board has been looking at adding a director, and JB Straubel, whose role on the board has mostly gone under the radar, has reportedly been meeting with investors:\n<ul class=\"wp-block-list\">\n<li>\u201cThe eight-person Tesla board has been looking to add an independent director, according to people familiar with the process. Some directors, including Tesla co-founder JB Straubel, have been meeting with major investors to reassure them the company is in good hands.\u201d<\/li>\n<\/ul>\n<\/li>\n<li>WSJ has reportedly seen text messages that Musk sent to someone telling them that he doesn\u2019t wish to be CEO at Tesla anymore:\n<ul class=\"wp-block-list\">\n<li>\u201cLast spring, he told that person that he no longer wanted to be CEO of Tesla, but that he was worried that no one could replace him atop the company and sell the vision that Tesla isn\u2019t just an automaker, but the future of robotics and automation as well.\u201d<\/li>\n<\/ul>\n<\/li>\n<li>The report mentioned a Tesla manager who shared frustration about Musk\u2019s negative impact on the business who has reportedly been let go since his comments were reported in the media:\n<ul class=\"wp-block-list\">\n<li>\u201cEliah Gilfenbaum, a Tesla executive in California, told his team that it was getting more challenging to hire and retain talent, according to one person who was present. He told them Tesla would be better off if Musk resigned. That was unlikely to happen, he told them, and employees needed to reconcile the boss\u2019s politics with the company\u2019s mission. He advised them to try to compartmentalize and just keep going.\u201d<\/li>\n<\/ul>\n<\/li>\n<li>The board reportedly told investors that Musk wasn\u2019t as well aware of what\u2019s happening with Tesla as he used to:\n<ul class=\"wp-block-list\">\n<li>\u201cIn recent meetings with investors, board members told them that despite Musk\u2019s government work, he was involved in Tesla meetings remotely. One board member told people that sometimes Musk wasn\u2019t as well prepared and that he needed to be briefed more about what is happening with Tesla. The board members continued to say they believed Musk\u2019s proximity to Trump and the White House would benefit the company over the long term.\u201d<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>The report provides some insight into how the board is addressing the current situation with its controversial CEO.<\/p>\n<p>During Tesla\u2019s earnings call last week, Musk said that he would scale back his time at DOGE to spend more time at Tesla.<\/p>\n<p>It encouraged some investors, but the CEO still claimed that he would \u201cspend a day or two per week on government matters\u201d:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\" readability=\"16\">\n<p>\u201cI think starting probably next month, May, my time allocation to DOGE will drop significantly. I\u2019ll have to continue doing it for, I think, probably the remainder of the President\u2019s term, just to make sure that the waste and fraud that we stop does not come roaring back, which will do if it has the chance. So, I think I\u2019ll continue to spend a day or two per week on government matters for as long as the President would like me to do so and as long as it is useful. But starting next month, I\u2019ll be allocating probably more of my time to Tesla and now that the major work of establishing the Department of Government Efficiency is done.\u201d<\/p>\n<\/blockquote>\n<p>In addition to these duties, Musk serves as CEO of SpaceX and the de facto leader of X\/xAI, as well as being involved in Neuralink and The Boring Company.<\/p>\n<p>Musk didn\u2019t respond to WSJ\u2019s request for comments, and as of the time of writing this article, he didn\u2019t seem to have directly addressed the new report on X, but he did share a couple of memes about him \u201cwearing many hats\u201d:<\/p>\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/electrek.co\/wp-content\/uploads\/sites\/3\/2025\/04\/Screenshot-2025-04-30-at-10.37.21\u202fPM.png?w=586\" alt=\"\" class=\"wp-image-413672\"\/><\/figure>\n<p>He appeared at Trump\u2019s cabinet meeting today wearing two hats simultaneously.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-electrek-s-take\">Electrek\u2019s Take<\/h2>\n<p>I\u2019d take the report with a grain of salt. A lot of it makes sense, but there are unnamed sources, and this could be as simple as the board floating the idea of replacing Musk.<\/p>\n<p>Also, I want this to happen, so I\u2019m certainly biased in the sense that I want to believe it\u2019s true.<\/p>\n<p>I think the board and shareholders would have a tough time removing Musk. Shareholders are not sufficiently incentivized by the current stock price, which is resisting Tesla\u2019s declining growth and struggling fundamentals.<\/p>\n<p>And they still believe Elon\u2019s lies about self-driving and humanoid robots soon bringing Tesla back to rapid earnings growth.<\/p>\n<p>I think we might need a few more people to get the \u201cElon realization moment\u201d before there\u2019s enough motivation from shareholders to push him out.<\/p>\n<div class=\"ad-disclaimer-container\" readability=\"6.3518518518519\">\n<p class=\"disclaimer-affiliate\"><em>FTC: We use income earning auto affiliate links.<\/em> <a href=\"https:\/\/electrek.co\/about\/#affiliate\">More.<\/a><\/p>\n<p><!-- post ad --><\/div>\n","protected":false},"excerpt":{"rendered":"<p>According to a new report from The Wall Street Journal, Tesla\u2019s board has taken steps toward potentially seeking a new CEO to replace Elon Musk. To say the least, Tesla\u2019s board of directors has been extremely favorable to Elon Musk, Tesla\u2019s largest single shareholder and long-time CEO. They have backed his every move, granted him [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8313,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-82147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-cars"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/82147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=82147"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/82147\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/8313"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=82147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=82147"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=82147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}