Tesla has denied reports that it has launched a search for Elon Musk‘s replacement as chief executive.
On Wednesday, the Wall Street Journal reported that the company had contacted recruitment firms last month as part of a search for Musk’s successor.
The publication said this was because of frustration within Tesla around Musk’s role in Donald Trump’s government, and the impact this was having on the company.
Tesla’s share price was at a record high in December, but since Trump’s inauguration – and Musk’s outspoken involvement in his administration – the electric car company’s stock has plummeted.
But Tesla has now been forced to come out and deny claims it is searching for Musk’s replacement, labelling the Wall Street Journal’s report as “absolutely false.”
Tesla chair Robyn Denholm wrote on X, external: “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).”
She added: “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.”
In his own post on the matter, Musk said the Journal’s report was a “discredit to journalism.”
Writing on X, he accused the paper of an “extremely bad breach of ethics.”
The Journal cited unnamed sources in its piece, writing that Musk had been told by the Tesla board that he needed to spend more time on the company and had to make this publicly known.
In recent weeks, it has been reported that Musk will be stepping away from his government role to focus more on Tesla.
As Trump’s ‘first buddy’ and the head of the Department for Government Efficiency, Musk has spearheaded deep government cuts, including shutting down the US global aid department and accusations of widespread fraud within the Social Security system.
Actions such as his salute on inauguration day and vocal support for far-right parties and figures across the world have also contributed to people shunning Tesla.
Some Tesla cars, dealerships and charging stations have vandalised in protest against Musks’s influence in government.
Meanwhile, Trump’s tariffs has also had a huge impact on Tesla, with Musk in clear opposition to the policy.
Along with Tesla’s plummeting sales and value, Musk is apparently also keen to step away from politics because of what he believes are ‘vicious’ attacks on him from the left.
Related: Elon Musk set to leave politics because of ‘nasty attacks from the left’