Tesla Board Explored Search for New CEO Amid Musk White House Focus: Report
May 1, 2025
2,500
Tesla opened a search for a new CEO amid billionaire Elon Musk’s lengthy time spent at the White House heading the Department of Government Efficiency (DOGE), The Wall Street Journal reported.
Newsweek reached out to Tesla via email Wednesday night for comment.
Why It Matters
Musk, Tesla’s CEO, has worked in tandem with President Donald Trump during his second term in office. Musk has faced fierce backlash amid cuts to the federal budget, including thousands of federal jobs, and the dismantling of entire agencies.
Amid the uproar, Tesla cars and property have been targeted and torched across the United States in apparent retaliation. Attorney General Pam Bondi said in a statement last month that the attacks are “nothing short of domestic terrorism.”
Tesla stock and profits have also been smacked amid the protests on Musk and DOGE. In the first quarter, the company reported a 71 percent dip in revenue. During the earnings call with Tesla, Musk said he would prioritize the company, adding that his time spent with DOGE “will drop significantly” around May. This announcement sent Tesla shares climbing during premarket trading earlier this month.
What To Know
The Journal reports that the search for a new CEO was opened “about a month ago,” as board members reached out to “several” executive search firms in hopes of finding a new leader, citing people familiar with the discussions.
The board reportedly narrowed it down to “a major search firm,” according to the Journal, which added that it was unclear if the search is ongoing or if Musk was made aware, as he is a member of the board.
The board, which features eight people, has, according to the Journal, been searching in hopes of adding an independent director, citing people familiar with the process.
“Major investors” have also been meeting with JB Straubel, the company’s cofounder, who has insisted the company is “in good hands,” the Journal also says.
Meanwhile, Trump’s threats of global tariffs, especially on China, have seemingly soured Americans’ views on his overall handling of the presidency and specifically on the economy, according to recent polling.
Elon Musk is seen attending a Cabinet meeting at the White House on April 30 in Washington, D.C. (Photo by Andrew Harnik/Getty Images) Elon Musk is seen attending a Cabinet meeting at the White House on April 30 in Washington, D.C. (Photo by Andrew Harnik/Getty Images)
What People Are Saying
Trump, while speaking to Musk during a Cabinet meeting on Wednesday, in part: “Well, we all want to thank you for your help. You know … you really have sacrificed a lot. You’ve been treated very unfairly.”
The president added, “The vast majority of people in this country really respect and appreciate you. And this whole room can say that very strongly. You’ve really been a tremendous help. You opened up a lot of eyes as to what could be done. And we just want to thank you very much, and you know you’re invited to stay as long as you want, and at some point, I guess he wants to get back home to his cars.”
Musk, in Wednesday’s Cabinet meeting, in part: “Well, Mr. President, you know they say I wear a lot of hats. And as you can see, that’s true, even my hat has a hat. So … you know the American people voted for secure borders, safe cities and sensible spending, and that’s what they’ve gotten.”
Continuing, Musk said: “Tremendous amount has been accomplished in the first 100 days. As everyone has said, it’s more than what has been accomplished in any administration before, ever, period. So, this portends very well for what will happen for the rest of the administration. I think this could be the greatest administration since the founding of the country.”
Update 4/30/25, 10:33 p.m. ET: This article was updated with additional information.
Um die besten Erfahrungen zu bieten, verwenden wir Technologien wie Cookies, um Geräteinformationen zu speichern und/oder darauf zuzugreifen. Wenn Sie diesen Technologien zustimmen, können wir Daten wie das Surfverhalten oder eindeutige IDs auf dieser Website verarbeiten. Die Nichteinwilligung oder der Widerruf der Einwilligung kann bestimmte Merkmale und Funktionen beeinträchtigen.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
