Tesla board backs Elon Musk despite WSJ report

Musk is spearheading the DOGE agency.

Transcript

00:00According to a new report by The Wall Street Journal, Tesla got serious about finding a

00:03new CEO to replace Elon Musk. The report says that in early April, Tesla's board began

00:08reaching out to executive search firms to help begin the hunt for a new chief executive.

00:12However, Tesla has pushed back on the journal's report, with company chair Robin Denham posting

00:16on X this is absolutely false and this was communicated to the media before the report

00:20was published. The CEO of Tesla is Elon Musk and the board is highly confident in his ability to

00:25continue executing on the exciting growth plan ahead. Tesla had a rough first quarter with

00:30Musk focusing more energy on Doge. Both its top and bottom lines missed estimates and revenue fell

00:35by 9% year-over-year. As of its Q1 close, shares of Tesla were down 41% since the start of 2025.

00:43However, Elon Musk has said that he intends to scale back the amount of time he spends with Doge to

00:47focus on his businesses. That'll do it for your daily briefing. From New York City, I'm Kelsey Barbario

00:51with the stream.