WNYUZ
No Result
View All Result
  • Home
  • Politics
  • Opinion
  • Business
  • World
  • Health
  • Entertainment
  • Tech
  • Home
  • Politics
  • Opinion
  • Business
  • World
  • Health
  • Entertainment
  • Tech
No Result
View All Result
WNYUZ
No Result
View All Result
Home News

Tesla board looked for new CEO as Musk focused on White House, WSJ reports

April 30, 2025
in News
Tesla board looked for new CEO as Musk focused on White House, WSJ reports
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

(Reuters) – Tesla board members reached out about a month ago to several executive search firms to find a successor to 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 on the time he devotes to the Trump administration and spend more time running Tesla.

Musk’s work at his Department of Government Efficiency (DOGE), where he has led efforts to cut federal jobs, has been one of the most controversial aspects of the Trump presidency, and his time away from Tesla has been an additional concern for investors as sales of its 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.

Tesla is at a crucial juncture.

Amid rising competition globally, Musk has pivoted from his promise of making a new affordable EV platform to rolling out driverless taxis and humanoid robots, highlighting Tesla’s future as an AI and robotics company instead of an automaker.

Much of the company’s valuation is based on that vision, and some investors believe Trump will help further it. Last week, federal regulators eased rules for testing autonomous vehicles, boosting Tesla’s stock.

Some Tesla directors, including co-founder JB Straubel, have been meeting with major investors to reassure them the company is in good hands, the WSJ said.

Activist investors have long accused Tesla’s board of lacking independence and failing to rein in Musk.

Board chair Robyn Denholm, hand-picked by Musk whose controversial pay package she defended, has also drawn criticism for her own pay package along with questions about whether that compromised her oversight of Tesla and Musk. Denholm has dismissed the allegations and a spokesperson has said her pay was fair.

The eight-person Tesla board, which also includes Musk’s brother Kimbal Musk and James Murdoch, son of media mogul Rupert Murdoch, has been looking to add an independent director, the report said.

(Reporting by Bipasha Dey in Bengaluru and Abhirup Roy in San Francisco; Editing by Alan Barona, Christopher Cushing and Raju Gopalakrishnan)

The post Tesla board looked for new CEO as Musk focused on White House, WSJ reports appeared first on Reuters.

Tags: board membersElon MuskKimbal MuskReutersTeslathe Wall Street JournalYahooYahoo Finance
Share196Tweet123Share
Gold eases as dollar firms after Fed meeting, Powell comments
News

Gold eases as dollar firms after Fed meeting, Powell comments

September 18, 2025

By Brijesh Patel (Reuters) -Gold prices extended losses on Thursday as the dollar firmed after the U.S. Federal Reserve cut ...

Read more
News

Fed cuts, markets not sure where to look

September 17, 2025
News

US Treasury’s Bessent made contradictory mortgage pledges, Bloomberg reports

September 17, 2025
News

Tim Cook says Apple’s $600 billion factory build out will create a ‘domino effect.’ But the tech giant still isn’t building iPhones in America

September 17, 2025
News

Waymo to offer autonomous rides in Nashville on Lyft ride-hailing network

September 17, 2025
Reuters

Ben & Jerry’s co-founder resigns after feud with parent Unilever over Gaza conflict

September 17, 2025
Reuters

Ben & Jerry’s co-founder resigns citing loss of independence under Unilever

September 17, 2025
Factbox-Wells Fargo’s business in China, where senior executive has left after lifting of exit ban

Factbox-Wells Fargo’s business in China, where senior executive has left after lifting of exit ban

September 17, 2025

© 2025 WNyuz.com

No Result
View All Result
  • Home
  • Politics
  • Opinion
  • Business
  • World
  • Health
  • Entertainment
  • Tech

© 2025 WNyuz.com