Tesla board in search for a CEO to succeed Elon Musk, WSJ reports

Tesla TSLA.O board members about a month ago reached out to several executive search firms to find a successor for CEO Elon Musk, the Wall Street Journal reported on Wednesday, citing people familiar with the discussions.

 

The current status of the succession planning could not be determined, WSJ said.

 

The EV maker has faced declining sales and profits, with investor concerns mounting over Musk’s involvement in the Department of Government Efficiency (DOGE), where he has led efforts to cut federal jobs.

Musk has said he would cut back significantly the time he devotes to the Trump administration and spend more time running his many companies.

 

It is also unclear if Musk — being a member of the board himself — was aware of the effort, or if his pledge to spend more time at Tesla has affected succession planning, the report added.

 

Tesla and Musk did not immediately respond to Reuters’ requests for comment.

 

Reporting by Bipasha Dey in Bengaluru; Editing by Alan Barona

 

 

 

 

 

This article was first reported by Reuters