Tesla Denies Reports Of Seeking To Replace CEO Elon Musk Amid Falling Sales, Profits
Image Credit: tori- Tesla strongly denied reports that it is searching for a new CEO to replace Elon Musk, with Board Chair Robyn Denholm calling the claims “absolutely false.”
- The denial follows a media report alleging the board contacted recruitment firms, which Tesla refuted even before the story went public.
- Tesla’s recent financial results showed a 9% revenue decline year-over-year, a 20% drop in automotive revenue, and a 71% plunge in net income, raising investor concerns.
- Elon Musk acknowledged that his reduced focus on Tesla, due to his new government duties, may be impacting the company’s stock, which has dropped over 30% this year.
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