- Mar 11, 2015
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Tesla appears to be looking for a new CEO. The company has had problems for quite some time under his leadership and now that he has created huge losses, the board of directors might be looking for someone new.
The report brings several new information to light. Here are the main points with quotes from WSJ:
electrek.co
The chair has denied it.
www.nytimes.com
Tesla board is reportedly floating replacing Elon Musk as CEO
The report brings several new information to light. Here are the main points with quotes from WSJ:
- According to unnamed sources, Tesla’s board reached out to executive search firms to look for a new CEO:
- “Board members reached out to several executive search firms to work on a formal process for finding Tesla’s next chief executive, according to people familiar with the discussions.”
- The board reportedly met with Musk and asked him to spend more time on Tesla:
- “Around that time, Tesla’s board met with Musk for an update. Board members told him he needed to spend more time on Tesla, according to people familiar with the meeting. And he needed to say so publicly.”
- After Musk committed to spending more time at Tesla, it’s not clear what is the current status of the search for a potential new CEO:
- “The board narrowed its focus to a major search firm, according to the people familiar with the discussions. The current status of the succession planning couldn’t be determined. It is also unclear if Musk, himself a Tesla board member, was aware of the effort, or if his pledge to spend more time at Tesla has affected succession planning. Musk didn’t respond to requests for comment.”
- Additionally, Tesla’s board has been looking at adding a director, and JB Straubel, whose role on the board has mostly gone under the radar, has reportedly been meeting with investors:
- “The eight-person Tesla board has been looking to add an independent director, according to people familiar with the process. Some directors, including Tesla co-founder JB Straubel, have been meeting with major investors to reassure them the company is in good hands.”
- WSJ has reportedly seen text messages that Musk sent to someone telling them that he doesn’t wish to be CEO at Tesla anymore:
- “Last spring, he told that person that he no longer wanted to be CEO of Tesla, but that he was worried that no one could replace him atop the company and sell the vision that Tesla isn’t just an automaker, but the future of robotics and automation as well.”
- The report mentioned a Tesla manager who shared frustration about Musk’s negative impact on the business who has reportedly been let go since his comments were reported in the media:
- “Eliah Gilfenbaum, a Tesla executive in California, told his team that it was getting more challenging to hire and retain talent, according to one person who was present. He told them Tesla would be better off if Musk resigned. That was unlikely to happen, he told them, and employees needed to reconcile the boss’s politics with the company’s mission. He advised them to try to compartmentalize and just keep going.”
- The board reportedly told investors that Musk wasn’t as well aware of what’s happening with Tesla as he used to:
- “In recent meetings with investors, board members told them that despite Musk’s government work, he was involved in Tesla meetings remotely. One board member told people that sometimes Musk wasn’t as well prepared and that he needed to be briefed more about what is happening with Tesla. The board members continued to say they believed Musk’s proximity to Trump and the White House would benefit the company over the long term.”

Tesla board is reportedly floating replacing Elon Musk as CEO
According to a new report from The Wall Street Journal, Tesla’s board has taken steps toward potentially seeking a new...

The chair has denied it.

Tesla Chair Denies That Board Sought to Replace Elon Musk
Robyn Denholm, who leads Tesla’s board, said on social media that board members were “highly confident” in Mr. Musk, the company’s chief executive.