Robyn Denholm, the chair of Tesla, denied that the company's board considered replacing Elon Musk as CEO despite reports from The Wall Street Journal.
Board members had allegedly reached out to recruitment firms to find a new CEO as Tesla faced stock price plunges and public backlash over Musk's involvement in DOGE.
In Tesla's Q1 earnings call, Musk announced stepping back from his role in DOGE to focus more on leading Tesla, leading to a surge in the company's stock price.
Tesla has faced challenges including protests over federal workforce cuts, vandalism of its showrooms, and increased competition in the EV space, with its sales and stock slumping in 2025.