Source: Financial Times [UK]
“Tesla chair Robyn Denholm denied a report that the board was seeking to replace its chief executive Elon Musk in response to plunging sales and a widespread backlash against his alliance with President Donald Trump. ‘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,’ Denholm said in a post on the electric vehicle maker’s account on social media platform X early on Thursday morning. ‘This is absolutely false ….’ First-quarter profit at the carmaker plunged 71 per cent, undershooting even the most pessimistic expectations, and Tesla lost its crown as the world’s largest EV maker to Chinese rival BYD. Its shares have fallen 30 per cent since the start of the year, wiping more than $800bn from its market valuation.” (05/01/25)