Tesla has publicly refuted a recent Wall Street Journal report suggesting that the company is seeking to replace CEO Elon Musk. Tesla’s chair, Robyn Denholm, labeled the report as “absolutely false,” asserting that the board remains “highly confident” in Musk’s leadership and his ability to execute the company’s growth plans .

The Wall Street Journal article had claimed that Tesla’s board members had reached out to executive search firms about a month ago to explore potential successors for Musk. The report cited concerns from investors regarding Musk’s divided attention between Tesla and his role in the Trump administration’s Department of Government Efficiency, which has faced criticism for its aggressive cost-cutting measures

In response, Musk dismissed the report as “deliberately false” and reaffirmed his commitment to Tesla. He stated that he would be allocating “far more” of his time to the company, now that the major work of establishing the Department of Government Efficiency is complete .

Despite the board’s public support, Tesla’s stock has experienced a 30% decline in 2025, and the company has faced challenges in European markets. Sales in Germany and the U.K. have dropped significantly, with some attributing the downturn to Musk’s political affiliations and public controversies .

While the board has expressed confidence in Musk, some investors have raised concerns about the company’s governance structure, noting the influence of Musk’s family members and associates on the board. Analysts suggest that any leadership changes at Tesla would need to be handled delicately to maintain investor confidence and the company’s innovative momentum .

In summary, Tesla has firmly denied reports of seeking a new CEO, with both Musk and the board expressing confidence in his leadership. However, ongoing challenges in the market and governance discussions may continue to influence the company’s trajectory.