US EditionElon Musk Scales Back White House Role to Refocus on Tesla
- Elon Musk revealed plans to leave his government position to focus on Tesla after the company reported a 71% drop in earnings in early 2025.
- The board began searching for a new CEO after directors told Musk to devote more time to Tesla amid the worst sales drop in the company's history and a moribund stock price this year.
- Musk, who owns 410 million shares representing 12.8% of Tesla, faced pressure due to his significant commitment to White House efficiency initiatives and admitted to investor blowback for it.
- Analysts led by Wedbush's Dan Ives said Musk did the right thing recommitting as CEO and expressed confidence he would likely remain for at least five more years.
- Musk's return suggests Tesla will continue focusing on his vision of autonomous vehicles, while the board currently is not actively pursuing a replacement and the recent leadership crisis appears resolved.
426 Articles
426 Articles
Tesla Takedown Protesters Are Hitting Musk Where It Hurts: His Bottom Line
On April 26, protesters outside a Tesla Dealership in Washington, D.C. were elated. That week, Elon Musk, Tesla CEO and head of the so-called “Department of Government Efficiency” (DOGE), indicated to shareholders that he would step back from government, allocating a mere “day or two per week” toward DOGE projects. In mandatory Securities and Exchange Commission filings and comments to Wall Street… Source
Tesla denies WSJ report on seeking new CEO succession plan, backs Elon Musk
Tesla has strongly denied a Wall Street Journal report claiming its board had launched a search for a new CEO to replace Elon Musk. In a post on Tesla’s official X account, board chair Robyn Denholm called the WSJ’s claim “absolutely false,” asserting the board remains “highly confident” in Musk’s leadership and growth strategy. The Journal reported that Tesla directors had contacted executive search firms as recently as March, citing anonymous …
Tesla: Elon Musk on the harness, according to the "Wall Street Journal"
Elon Musk's status as boss is questioned at Tesla, the manufacturer of electric cars whose profits and value of the action have collapsed since he took charge of politics in Washington. According to press reports, the company's board of directors is said to have launched a search for a new boss.
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