Tesla’s board reportedly sought a successor while Musk wheeled around Washington

A recent report from The Wall Street Journal has raised eyebrows by revealing that Tesla’s board has quietly begun searching for a potential successor to Elon Musk. This search comes at a time when the carmaker is facing protests, declining sales, and shrinking profits, while Musk is also involved in government activities aimed at reducing spending.

Board members have reportedly expressed concerns to Musk about his divided attention and urged him to devote more time to Tesla publicly. Musk has since assured investors that he will be allocating more time to the company starting in May.

Musk’s government work has had a negative impact on Tesla, resulting in the company’s first annual sales decline in over a decade and a decrease in market value from $1.5 trillion to $900 billion. Despite these challenges, Musk remains optimistic about Tesla’s future, as indicated during the recent earnings call.

The current status of the succession planning is uncertain, and it is unclear whether Musk, who has led Tesla for nearly 20 years, is aware of the efforts being made by the board.