Ammon News - Tesla chair Robyn Denholm on Thursday denied a Wall Street Journal report that said board members had reached out to executive search firms to find a new replacement for CEO Elon Musk.

The Journal had reported on Wednesday that Tesla's board members had reached out about a month ago to several executive search firms to find the company's new CEO, citing people familiar with the discussions.

Denholm said on X that the report was "absolutely false" and said that the EV maker's board is "highly confident" in Musk's ability to "continue executing on the exciting growth plan ahead". Musk also said on X that the report was a "deliberately false article".

Musk said last week he would cut back significantly on the time he devotes to the Trump administration and spend more time running Tesla.

Musk's work at his Department of Government Efficiency (DOGE), where he has led efforts to cut federal jobs, has been one of the most controversial aspects of the Trump presidency, and his time away from Tesla has been an additional concern for investors as sales of its aging EV lineup have been on the decline. Reuters