Tesla has slapped down reports that the electric car brand is looking to replace Elon Musk as its CEO following months of uncertainty.
Rumours earlier today circulated that the South African businessman could be replaced as the Chief Operating Officer of Tesla, the brand he helped develop into one of the largest manufacturers in the world.
The Wall Street Journal claimed that Tesla's board members had reached out to several executive search firms to find a new CEO.
The report was in response to several people familiar with the discussions, adding that the search had started around a month ago.
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Tesla's Chairman has denied reports that Elon Musk will be replaced as the CEO of the brand
REUTERS
However, this was quickly denied by Tesla, in a rare case where the brand responded to media reports about the inner workings of the business.
In a statement, Chairman of the board of directors at Tesla Motors, Robyn Denholm, responded to rumours that Musk could be replaced as CEO.
She said: "Earlier today, there was a media report erroneously claiming that the Tesla Board had contacted recruitment firms to initiate a CEO search at the company.
"This is absolutely false (and this was communicated to the media before the report was published).
"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."
Elon Musk echoed the message from the brand's post, describing the Wall Street Journal as a "discredit to journalism".
He added: "It is an EXTREMELY BAD BREACH OF ETHICS that the WSJ would publish a DELIBERATELY FALSE ARTICLE and fail to include an unequivocal denial beforehand by the Tesla board of directors!"
Posting on social media platform X, formerly known as Twitter, Tesla said that the brand would be "just fine", adding that it had been "pronounced dead many times".
The recently released Tesla financial summary revealed that automotive revenues fell 20 per cent year-on-year, dropping from $17.3billion (£13billion) to just $13.9billion (£10.4billion).
The report "rapidly evolving trade policy" and "changing political sentiment" could have a meaningful impact on the demand for Tesla's electric vehicles.
It comes as Elon Musk continues to attract criticism for his work with the Department of Government Efficiency (DOGE) and his close relationship with US President Donald Trump.
His affiliation with Trump, DOGE and far-right political figures has led to calls for a mass boycott against Tesla, in addition to weekly protests against the brand across the world.
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Elon Musk has been CEO of Tesla since 2008
GETTYSales have slumped across Europe, with major markets like Germany, France and Spain seeing consumers turn their backs on the electric vehicle brand.
So-called Tesla Takedown protests continue to take place around the globe, with the UK chapter planning action over the bank holiday weekend in London, Manchester, Leeds, Winchester, Nottingham, Bristol, Edinburgh, Glasgow and Exeter.
