Elon Musk’s White House Focus Prompts Tesla Board to Seek New CEO: Report
Elon Musk’s White House Focus Prompts Tesla Board to Seek New CEO: Report From the Wall Street Journal.Just this hour, it’s a headline that readsTesla BoardOpen Search for a CEO to SucceedElon Musk.When you read the story,sources are telling.
the Journal That Tesla’s Board members started reaching out to several executive search firms,initiating a formal process to replace Musk.My source joined me tonight.
The Wall SJournal’s Emily Glaser,who just broke this reporting.And Emily,thanks for joining us on such breaking news.Can you just tell us what happened and what the board of Tesla wasAbsolutely.
So Tesla has been goin through some pain lately.It just reported earnings last weekend had profits decline about 70 And our reporting shows that around a month ago,board members were reaching out to executive recruiting firms to start a formalCEO succession search process.this is a formal kind of next chObviously,
companies do succession planning all the for their next leader,but we know that this is happiness. There is concern from investors about spending too much time in DC,given his government role and concern about the company struggling lately.
we also know that board members,to earnings, had an update.They gathered with Elon Musk,and they said to him that we really need you to refocus on Tesla.And we need you to say it publicAnd he did not push back.That’s pretty remarkable,
given we saw him come out and say he step away from the Doge effort.And and part of your reporting that stood out to me is where you said that some Tesla employees said the first time they had heard from him in months was at an all hands me that they had in March,where you report if you read the he said it, quote,
feels like Armageddon.I can’t walk past a TVwithout seeing a Tesla on fire.These are times when there are rocky moments,a little bit of stormy weather.
But I’m here to tell you that the future is bright and exWhat I’m saying is, quote,hang on to your stock.Interesting message.from a CEOthat was actually streamed on X.And so, our understanding is thaMusk has not spent much time at Tesla offices.He has been calling into meetingHe’s been joining virtually.
And that’s something that we know board members shared with some major investors because they were concerned.And, our understanding is that one board member actually told investors that they did need to brief Elon more at times ahead of board meetings.
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So, look, it’s been no secretElon Musk has been spending a lot of time in Washington, DC.He’s been at Trump’s side.He’s been in Mar-A-Lago.he has five companies that he ovTesla is one of them.But Tesla is public and Tesla is the biggest.
It’s got a market cap of around $900 billion.Do we know if Elon Musk Was aware of the effort that was underway to potentially replace him?We do not know if he was aware of the effort.
And we also don’t know the status of this.So,there are definitely some unknowns out there,but it is a big deal and usually a turning point for any company to reach out and executive recruiting firm.this is usually when they would this formal process of looking at internal and external candidates,kind of examining their slate,so to speak, of who could be the next,
CEO.And something else to consider you know, Tesla doesn’t have a very deep bench.There have been a number of top executives that have left more recently.Our reporting also shows that Elat according to an internal document has more than 20 direct reports.
So there’s quite a lot going on in the company right noFor the first time in quite some time, it’s car sales stock shot up afterPresident Trump won the president And let’s not forget,
Elon Musk,contributed more than $250 milliDonald Trump’s reelection effort some consumers have been,pushed back.there’s been some brain damage,Have you know,
Elon Musk to be replaced as Tesla CEO?
bumper sticker saying that,on their Teslas,that they don’t necessarily support Elon Musk.so there’s been a rocky road recently for this company,and it’s only one of the five that Elon Musk oversees.Well, and I think in terms of how this works,would they be able to remove him without his consent?I mean,how does this work behind the scandal in terms of what the the board could do hereWell, Elon Musk,is a major shareholder,
humans,I believe, more than 10%of Tesla’s stock.So this is not like a typical cowhere, a board decides that they are ready to get into this next phase and they hire an external recruited they look at all their various candidates,
and then they make a decision that all shakes out.Usually CEOsare very involved in that process And of course Elon Muskis on the board as well.But when you’ve got someone who also is a major shareholder,
It changes that process.we’ve reported quite a bit at the Wall StreetJournal about how close Elon Musk is with his board members.We’ve reported that in some cases he used drugs with his board.
So I would just say this is not your averageCEO succession process.And I just want to emphasize that we are after Elon Musk said last week during earnings that he plans to refocus and recommit to Tesla. It’s unclear what the status of this CEOsearch process is going to be.
Emily GlaserIt is some fascinating reportingThank you for joining us on the breaking news this hour.Really appreciate your quick work Elon Musk today appeared to bid farewell to President Trump’s Cabinet,
further signaling his step back from the Trump Administration And perhaps focus some well-needed attention on his many other businesses.My panel’s here.And, Mike,take a listen to your former boss, President Trump,during the cabinet meeting today talking to Elon Musk.You have been treated unfairly.
But, the vast majority of people in this country really respect and appreciate you.You know, you’re invited to stay as long as you want at some poinGuessyou want to get back home to hisI’m not sure that it’s accurate to say that the vast majority of people.
I really respect and appreciate your lead.According to polls, a new Washing Ipsos poll shows even more Americans are souringIn February,49% of the American people disapproved of him.But this month it’s 57, percent.
Do you think that’s part of why he’s stepping back and that he was actually becoming something of a lightning rod?Well, I mean, I know one person that really appreciate it, whichPresident Trump,as others have said,
He was a heat shield for the preI called him a human heat shield for the president.And he served that job well.But it’s 130 days is up.There would have been other political conversations that needed to be he had stayed around.
And I think you’re right that that seemed like a farewell farewell cabinet meeting, forBut he’s got a real job,that he needs to get back to.And I’m sure Wall Street Will be thrilled to have him back doing,
X and Tesla and SpaceXand everything else he’s got goi before he got involved in politician Twitter,like, long before, even with Truhe was, you know, regarded as, like the Thomas Edison or Tesla nickelTesla of our time,and even Fetterman,during the campaign was sayingJohn Fetterman,
Democrat From Pennsylvania,you know, I take him to, oh,he goes to rallies and people think he’s Tony StarkThat’s Iron man. Jesse. Yeah.are you kidding?Make sure. Wow.I didn’t know that was a bit ofI don’t know what kind of supernerd use all of them.All right.
Okay, okay.Anyway, apologies, sir.My point is, is this going to step back from the politics for a second?I don’t think so.Because people have pretty much made it clear they do not want Teslas.
I think I told Yahoo YouGthat said, was it two thirds of Americans say they wouldn’t buy a Tesla?I’m not sure him being back at the company is craChange radicals keep blowing theOh yeah,
that keeping them or doing other tWell, more importantly though,I think it’s a way that people aTheir people are not buying them as a way to say,we don’t like what he’s done.We don’t like the role that he’sBut can I just point out we don’t talk about this enough.
He’s already got the most valuable access to our data.Just because he’s not in Washing Doesn’t mean he won’t take all of our data that he already has access to, and his minions are still sitting there,going through our Social Security information,our financial.
We don’t know what he has accessOkay, you’re right.He probably,you know,didn’t look at any of that stuff at least publicly.Trump says he likes Elon Musk.He really appreciates Elon Musk.
He loves the job he did.And I’m sure a lot of that is siBut what are your sources telling you about howTrump, or at least people in the white House,feel about him?Well,there’s a difference between how Trump views Elon Musk And just about everybody else in that white House.
I mean, let’s remember he has cl with just about every cabinet that was sitting at that table with Rubio, with Ratcliffe, withScott Besson, with Hedges said.I mean, the list goes on.So while,
President Trump,I think did continue to have a good relationship with him and kind of saw the media going after him,and whenever he sees that,
he does kind of put his arms around people.but boy, is that entire cabinet table relieved to see him take a step back.
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FAQ:
1. Why is Tesla’s board looking for a new CEO?
According to reports, Tesla’s board is exploring potential CEO candidates as Elon Musk has been increasingly occupied with White House-related engagements, policy discussions, or other external ventures, diverting attention from Tesla’s operations.
2. Is Elon Musk stepping down as Tesla CEO?
No official announcement has been made, but sources suggest the board is proactively evaluating leadership options to ensure Tesla’s strategic focus remains strong. Musk may retain a key role (e.g., Chairman or Chief Product Officer) even if a new CEO is appointed.
3. How might this affect Tesla’s business?
Investors and analysts are monitoring the situation closely. A smooth leadership transition could stabilize operations, while prolonged uncertainty might raise concerns about Tesla’s long-term direction.
4. Who could replace Elon Musk as CEO?
Possible candidates may include:
- Current Tesla executives (e.g., Drew Baglino, Tom Zhu).
- External hires with automotive/tech leadership experience.
- A figure aligned with Musk’s vision but more operationally focused.
5. Has Musk’s political involvement impacted Tesla?
Critics argue that Musk’s political activities (e.g., meetings with policymakers, commentary on regulations) could distract from Tesla’s goals. Supporters claim his influence benefits EV and AI policy.
6. Where did this news originate?
The report was first published by [Source Name], citing unnamed board insiders. Tesla has not yet released an official statement.
7. How have shareholders reacted?
Market reactions may vary—some investors could see this as positive for governance, while others may worry about Musk’s reduced day-to-day involvement.
8. What’s next?
The board’s search is reportedly in early stages. Updates will depend on Musk’s priorities and Tesla’s performance in coming quarters.
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