Close Menu
Influential MagazineInfluential Magazine
  • Home
  • Latest News
  • Entrepreneurs
  • Business
  • Finance
  • Leadership
  • More
    • Web Stories
    • Editor’s Picks
    • Press Release

Subscribe to Updates

Get the latest business and finance news for entrepreneurs all around the world.

What's Hot
Are You Smarter Than a Billionaire?

Are You Smarter Than a Billionaire?

May 22, 2025
Wedding Belles Love Expands with Size-Inclusive, Same-Day Bridalwear Boutique

Wedding Belles Love Expands with Size-Inclusive, Same-Day Bridalwear Boutique

May 22, 2025
Markets Head Lower in Wake of Concerns About U.S. Debt

Markets Head Lower in Wake of Concerns About U.S. Debt

May 19, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
Influential MagazineInfluential Magazine
SUBSCRIBE
  • Home
  • Latest News
  • Entrepreneurs
  • Business
  • Finance
  • Leadership
  • More
    • Web Stories
    • Editor’s Picks
    • Press Release
Influential MagazineInfluential Magazine
Home » Tesla Chair Denies That Board Sought to Replace Elon Musk

Tesla Chair Denies That Board Sought to Replace Elon Musk

May 1, 20252 Mins Read Business
Tesla Chair Denies That Board Sought to Replace Elon Musk
Share
Facebook Twitter Reddit Telegram Pinterest Email

The chair of Tesla’s board of directors denied a report that the company had begun to look for a replacement for Elon Musk, the chief executive who has been spending much of his time working for President Trump while the automaker’s sales and profits plummet.

Robyn Denholm, who has led the board for more than six years, said on X that the report in The Wall Street Journal was “absolutely false.”

“The CEO of Tesla is Elon Musk and the board is highly confident in his ability to continue executing on the exciting growth plan ahead,” Ms. Denholm said on Tesla’s account on X, the social media firm owned by Mr. Musk.

The Journal reported late Wednesday that, about a month ago, the Tesla board had contacted executive search firms to help look for Mr. Musk’s replacement, citing “people familiar with the matter.”

After the company reported a 71 percent drop in quarterly profit last week, Mr. Musk promised to spend more time at Tesla and less time in Washington. He said that he would spend one or two days a week on administration work.

Mr. Musk’s absence from Tesla while he oversaw Mr. Trump’s efforts to slash government spending and cut federal government jobs has become a sore point with investors. Mr. Musk’s involvement with the administration and with right-wing causes in Europe has prompted protests at Tesla dealerships and is partly responsible for a steep drop in sales. Electric vehicle buyers tend to be liberals or centrists.

Tesla’s revenue fell 9 percent in the first quarter of the year, to $19.3 billion, the company reported last week.

The automaker has lost market share in the United States, China and Europe as competitors like BYD, General Motors, Volkswagen and other companies introduce dozens of electric models. Analysts have faulted Tesla for failing to expand its lineup beyond two main cars.

The Model Y sport utility vehicle and the Model 3 sedan account for a vast majority of Tesla’s sales. The Cybertruck, Tesla’s newest vehicle, has not sold as well as Mr. Musk said it would.

Appointments and Executive Changes Automobiles Boards of Directors Company Reports Denholm Donald J Electric and Hybrid Vehicles Elon Musk Robyn Tesla Motors Inc Trump United States Politics and Government Wall Street Journal X (Formerly Twitter)
Share. Facebook Twitter Pinterest LinkedIn Telegram Reddit Email
Previous ArticleRory McIlroy and Investment Giant TPG Team Up for Sports Venture
Next Article How Much Time Will Musk Devote to Tesla?

Related Posts

Are You Smarter Than a Billionaire?

Are You Smarter Than a Billionaire?

May 22, 2025
Markets Head Lower in Wake of Concerns About U.S. Debt

Markets Head Lower in Wake of Concerns About U.S. Debt

May 19, 2025
Video: How Staffing Shortages Have Plagued Newark Airport

Video: How Staffing Shortages Have Plagued Newark Airport

May 17, 2025
Consumers Show Signs of Strain Amid Trump’s Tariff Rollout

Consumers Show Signs of Strain Amid Trump’s Tariff Rollout

May 15, 2025
Inside Elon Musk’s X Feed: Trumpism, Falsehoods and Lots of Love for Elon Musk

Inside Elon Musk’s X Feed: Trumpism, Falsehoods and Lots of Love for Elon Musk

May 15, 2025
World Economic Forum Investigating Allegations Against Founder Klaus Schwab

World Economic Forum Investigating Allegations Against Founder Klaus Schwab

May 15, 2025
Add A Comment

Leave A Reply Cancel Reply

Demo
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss
Are You Smarter Than a Billionaire?

Are You Smarter Than a Billionaire?

By News RoomMay 22, 2025

Over the course of one week, some of the richest people in the world descended…

Wedding Belles Love Expands with Size-Inclusive, Same-Day Bridalwear Boutique

Wedding Belles Love Expands with Size-Inclusive, Same-Day Bridalwear Boutique

May 22, 2025
Markets Head Lower in Wake of Concerns About U.S. Debt

Markets Head Lower in Wake of Concerns About U.S. Debt

May 19, 2025
Video: How Staffing Shortages Have Plagued Newark Airport

Video: How Staffing Shortages Have Plagued Newark Airport

May 17, 2025

Subscribe to Updates

Get the latest business and finance news for entrepreneurs all around the world.

About Us
About Us

Influential Magazine is one of the top news portals about Business and Finance news for Entrepreneurs and leaders all around the world, follow us for more intersting articles and news.

Our Picks
Video: How Staffing Shortages Have Plagued Newark Airport

Video: How Staffing Shortages Have Plagued Newark Airport

May 17, 2025
Father and Son Duo Launch PlayZer Media to Support Southern England’s Grassroots Music Scene

Father and Son Duo Launch PlayZer Media to Support Southern England’s Grassroots Music Scene

May 16, 2025
Beauty Corner in Wellingborough Expands Services with Launch of Dermasculpt Treatment

Beauty Corner in Wellingborough Expands Services with Launch of Dermasculpt Treatment

May 16, 2025
Trending Now
World Economic Forum Investigating Allegations Against Founder Klaus Schwab

World Economic Forum Investigating Allegations Against Founder Klaus Schwab

May 15, 2025
A.I. Was Coming for Radiologists’ Jobs. So Far, They’re Just More Efficient.

A.I. Was Coming for Radiologists’ Jobs. So Far, They’re Just More Efficient.

May 14, 2025
Beau Bronzage Breaks Industry Barriers with New Fragrance-Forward Self-Tan Formula

Beau Bronzage Breaks Industry Barriers with New Fragrance-Forward Self-Tan Formula

May 14, 2025
Influential Magazine
Facebook X (Twitter) Instagram LinkedIn
  • Home
  • Privacy Policy
  • Contact
  • Terms & Conditions
© 2025 Influential Mag. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.