Key Takeaways
- Despite reports suggesting Tesla’s board was seeking a new CEO, Chair Robyn Denholm has expressed full confidence in Elon Musk’s leadership.
- The comments come as Tesla reports its first annual sales decline in over a decade.
- Musk’s involvement in the controversial DOGE cost-cutting initiative with the Trump administration has triggered widespread criticism.
Tesla Chair Robyn Denholm has denied recent reports claiming that the company’s board of directors is seeking a replacement for CEO Elon Musk.
The report follows Musk’s recent pledge to step back from his duties within the U.S. government and focus more of his time on his electric vehicle company.
Tesla Denies Report
A report published by The Wall Street Journal alleged that board members began contacting executive search firms several months ago to initiate a formal search process.
The report also claimed that the board had recently narrowed its focus to a single major search firm.
However, Denholm refuted the claims in a post on X, calling the report “absolutely false” and reaffirming the board’s support for Musk.
“Elon Musk is the CEO of Tesla, and the board is highly confident in his ability to continue executing the company’s exciting growth plans,” she wrote.
A Challenging Time for Tesla
Last week, Musk stated that he would scale back his time dedicated to the Trump administration and the Department of Government Efficiency (DOGE) amid growing concerns about Tesla’s direction and leadership.
The announcement comes at a particularly challenging time for the electric vehicle manufacturer.
In 2024, Tesla experienced a significant global sales decline—its first annual drop in over a decade. In January, sales in Europe fell by 50% compared to the previous year.
Its profits also fell to $409m in the first quarter of 2025, a 71% decline from the $1.39 billion in net income the previous year.
The company has also faced mounting public protests, with demonstrations erupting at showrooms across the U.S. and abroad since March.
The unrest coincided with the launch of a controversial website, Dogequest, which published personal information about Tesla owners in the U.S.
DOGE Controversy
Musk’s involvement with DOGE—a cost-cutting initiative led by the Trump administration targeting federal agencies—has drawn significant backlash.
Launched in January 2025, the initiative has reportedly generated about $160 billion in annual savings, although these figures remain unverified and have been met with skepticism.
On April 28, CBS reported that analysts estimate DOGE’s cost-cutting measures could cost taxpayers up to $135 billion.
According to layoffs.fyi, more than 61,000 government employees have been laid off as part of the program.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
