Tesla's board of directors is searching for a replacement for Musk – WSJ.

In March, Tesla's board began searching for a new CEO who could replace Elon Musk.

According to journalists, this decision may have been prompted by the sharp decline in the company's stock, profits, and sales. Musk's controversial actions and statements have led to Tesla losing almost half of its market capitalization since the beginning of the year, and profits in the first quarter decreased by an impressive 71%.

There is a suggestion that Musk himself was not aware of the plans regarding his possible replacement, despite his presence on the board. It is currently also unknown whether investors and company management have changed their minds after Musk announced in April that he intends to focus on developing the automotive business and reduce his involvement in political processes.

Previously, Tesla's CEO and head of the U.S. Department of Efficiency Elon Musk stated that starting in May, he would significantly reduce the Time devoted to the Donald Trump administration, focusing on managing the automotive company.

It has been reported that the head of the Department of Government Efficiency (DOGE) Elon Musk is likely leaving President Donald Trump's administration.

Analysis:

Recently, Tesla has been facing significant losses that have caused instability in the market. Elon Musk, as the CEO of the company, is evidently being blamed for the sharp decline in stock and profitability. It is unknown whether investors and management's attitudes have changed after Musk announced focusing on the development of the automotive business and reducing participation in political processes.