Tesla’s board of directors has reportedly taken the first steps in searching for a new chief executive officer to succeed Elon Musk, according to a Wall Street Journal report published Wednesday. Citing individuals familiar with the matter, the report claims that board members quietly contacted several executive search firms about a month ago to begin evaluating potential candidates for the top job.
The status of the search remains unclear, and the Journal noted it could not determine whether Musk, who serves on Tesla’s board, is aware of or involved in the succession planning. The news comes at a time when Tesla is grappling with sliding sales figures and profit margins, along with increased scrutiny from investors concerned about Musk’s divided attention.
Musk has recently been spearheading initiatives for the Department of Government Efficiency (DOGE) under the Trump administration, where he has led controversial efforts to reduce the federal workforce. Amid criticism over his outside commitments, Musk previously stated that he would cut back on government responsibilities and refocus on his business ventures, including Tesla.
It is uncertain whether Musk’s pledge to spend more time at Tesla has influenced the board’s internal deliberations. Neither Tesla nor Musk responded to Reuters’ requests for comment regarding the Journal’s report.
The development marks a potential turning point for the electric vehicle pioneer, as it quietly explores the future of its leadership while navigating turbulent market conditions and questions about its long-term direction.