The electirc vehicle manufacturer cleared rumors started by a report from The Wall Street Journal that it is looking for a new Chief Executive Officer.

The WSJ reported hours ago that the company is looking for someone to succeed Elon Musk for the CEO role at Tesla. Naturally, rumors started flying around and speculations as to why is this happening took shape.

Many people argued that it’s an effort designed to calm investors in Tesla after the recent backlash against Musk because of his involvement with the Department of Government Efficiency (DOGE).

Musk was quick to respond, denying the claims in the report and also saying that “it is an extremely bad breach of ethics that the [Wall Street Journal] would publish a deliberately false article and fail to include unequivocal denial beforehand by the Tesla board of directors.

Meanwhile, the official Tesla account tweeted:

Earlier today, there was a media report erroneously claiming that the Tesla Board had contacted recruitment firms to initiate a CEO search at the company.

This is absolutely false (and this was communicated to the media before the report was published).

The CEO of Tesla is Elon Musk and the Board is highly confident in his ability to continue executing on the exciting growth plan ahead.

– Robyn Denholm

Tesla’s stock price closed at a 3.38% loss yesterday, clocking in at $282.16.

The post Tesla is NOT Looking to Replace Elon Musk as CEO: Company Denies WSJ Reports appeared first on CryptoPotato.