Tesla, the world’s top electric car company, is reportedly starting the search for a new chief executive officer (CEO) to eventually take over from Elon Musk. A new report from the Wall Street Journal says Tesla’s board has contacted executive search firms to help find a suitable successor.
The process reportedly began about a month ago, around the same time Musk started focusing more on his role in the Trump administration and the Department of Government Efficiency (DOGE). This shift in his attention has led to public criticism and even protests, with some people unhappy about how Musk’s political involvement is affecting Tesla’s image and performance.
Tesla’s recent financial results also reflected the pressure. In the first quarter, the company’s revenue dropped by 9%, and profits plunged by more than 70% compared to the same period last year. These numbers have only added to investor concerns about the company’s leadership stability and long-term direction.
According to the WSJ report, although Tesla has now focused on just one executive search firm, the search is still in the early stages and may take time. There’s no official word from Tesla or Musk on this matter yet. However, the fact that such discussions are happening shows that the board is thinking ahead and preparing for the possibility of a leadership transition.
Musk currently holds top roles at multiple companies, including SpaceX and Tesla, which has often raised questions about how long he can continue to manage all of them effectively. For Tesla, finding the right successor is crucial to ensuring the company stays on track in a fast-changing EV market.
Update
Tesla Chair Robyn Denholm said on Thursday that the news about the board looking for a new CEO to replace Elon Musk is completely false. She also said the board fully trusts Musk and believes he can successfully lead Tesla’s future growth plans.
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