Tesla’s board of directors has begun searching for a new CEO to replace Elon Musk
Tesla’s Board Begins Search for New CEO Amid Financial Struggles and Stock Decline — WSJ Reports
Market Challenges for Tesla
In the first quarter of 2025, the company’s profit dropped by 71%. Its shares have also suffered a significant decline. New tariff policies in the United States have created additional challenges for doing business in China.
In 2024, electric vehicle sales fell for the first time in more than a decade. The Cybertruck model faced criticism for its unusual design, and overall trends indicate a loss of sales momentum.
Some shareholders have expressed dissatisfaction over Elon Musk devoting too much attention to his activities in the U.S. presidential administration since spring last year, adding to internal tensions regarding his role at the company.
Uncertainty About Musk’s Awareness
According to WSJ sources, it is currently unclear whether Musk himself has been informed about the CEO search process. It is also unknown how far along the candidate selection has progressed.
According to comments from people close to him, Elon had previously expressed a desire to reduce his involvement as CEO but doubted anyone else’s ability to effectively manage the company.
