About a month ago, the Tesla board and some investors were actively seeking a replacement for CEO Elon Musk. As the sales and revenue of the company were deteriorating rapidly, Tesla board members reached out to several executive search firms to work on a formal process of finding a successor to Elon Musk.
Tesla has been on a downward spiral in terms of revenue and profit, as the visionary CEO of the company has been spending a significant amount of time in Washington alongside President Donald Trump.
However, after the board of directors asked Musk to allocate more time to Tesla. Musk didn’t push back. Moreover, Musk has previously stated that Tesla is very important, and he will leave DOGE to now spend more time at Tesla than in Washington.
Although the company hasn’t commented on its progress with Elon’s replacement, after he pledged to spend more time on Tesla, many people familiar with the process said that Tesla has narrowed its focus on a specific search firm to find the next CEO of Tesla.
Moreover, some reports claim that the eight-member board of the EV maker has been seeking independent directors, and other notable directors, such as the co-founder of Tesla, JB Straubel, have been meeting with major investors to assure them that the company is moving in the right direction.
With tariff wars at their crescendo, Tesla appears rather vulnerable, considering that most of Tesla’s supply chain relies on nations like China, where the tariffs have had the most severe impact. Now, it’s for investors to see how Tesla reacts to the long-term effects of tariffs and if Elon will be the CEO of the company soon.
