Tesla may be preparing for a major leadership change as reports emerge that the company’s board is exploring the possibility of replacing Elon Musk as CEO. The move follows a steep decline in Tesla’s stock price and growing concerns over Musk’s political entanglements and distractions from his core role.
According to a report from The Wall Street Journal, Tesla’s board has quietly launched a search for Musk’s successor, marking a potential end to his two-decade-long tenure as the face of the electric vehicle giant.
The development comes amid mounting controversy over Musk’s involvement in the Trump administration, where he currently serves as head of the Department of Government Efficiency (DOGE). His close association with Donald Trump and frequent public appearances alongside the former president have raised eyebrows among investors and board members alike.
Trump, while recently praising Musk for his work on DOGE, quipped that it might be time for him to “get back home to his cars”—a sentiment reportedly echoed by Tesla’s leadership. The board is said to have pressured Musk to publicly recommit to Tesla or risk being removed from his position.
In response, Musk stated he would be dedicating “far more of my time to Tesla,” a move likely intended to reassure shareholders and stabilize internal concerns.
Behind the scenes, Tesla has enlisted several executive search firms to begin identifying potential candidates who could eventually take over the CEO role.
Financial pressures are also mounting. Tesla’s first-quarter profits plummeted 71%, with earnings dropping from $1.4 billion in the same period last year to just $409 million. Since January, Tesla stock has lost nearly 40% of its value—though it saw a slight recovery following the company’s earnings report.
During Tesla’s Q1 earnings call, shareholders didn’t hold back, directing much of their attention toward Musk’s divided focus and the need for stronger leadership.
Whether this signals an imminent transition or simply a wake-up call for Musk remains to be seen—but one thing is clear: Tesla’s board appears more determined than ever to refocus the company’s leadership.
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