So, like, Tesla had a rough Q1 in 2025, with their earnings per diluted share dropping to £0.09 ($0.12) from £0.31 ($0.41) in the previous year. Revenue also took a hit, falling to £9.68 billion ($12.93 billion) from £12.33 billion ($16.46 billion). Ouch. And to add insult to injury, their shares are down a whopping 30% for the year so far. Investors seem to think that CEO Elon Musk is spread too thin with all his business and political stuff going on.
Word on the street is that Tesla might be on the hunt for a new CEO. According to sources cited by The Wall Street Journal, the Tesla board has reached out to a bunch of executive search firms to start looking for a replacement for Musk. They’re even scouting for an independent director to join the team. Seems like things are getting real over at Tesla headquarters.
But here’s the kicker – no one knows if Musk is in the loop about all this CEO search action. And with him recently mentioning that he wants to come back to Tesla full-time, who knows if that’s throwing a wrench in the works for finding his successor. The drama is real, folks.
The tension at the boardroom hit a peak after the Q1 results came out, showing a nosedive in sales and profits. The board, which has eight members, basically told Musk to stop juggling so many things and focus more on Tesla. Musk had to publicly announce during an earnings call that he’d be devoting more time to the company starting next month. Talk about a mic drop moment.
It seems like everyone wants a piece of Musk these days. Even US President Donald Trump gave him a shoutout during a recent cabinet meeting, thanking him for his work at the Department of Government Efficiency. Trump even extended an open invitation for Musk to hang around as long as he wants. But it looks like Musk is itching to get back to his true love – Tesla.
Not everyone is feeling the love for Tesla, though. Wedbush’s Dan Ives slashed the brokerage’s stock price target by a whopping 43%, citing the company’s political woes. He thinks Tesla’s brand is taking a hit as a political symbol. Ouch, that’s gotta hurt.
After The Wall Street Journal dropped the bomb about the CEO search, Tesla’s stock took a hit in after-hours trading. But fear not, the board, led by chair Robyn Denholm, swooped in to set the record straight. In a rare move, Tesla publicly denied the rumors on X, formerly known as Twitter. They made it clear that the board fully supports Musk and has complete faith in his ability to steer the company through its growth journey.
Rumor has it that Musk was venting to a confidant last year about how he was tired of working nonstop at Tesla. He even hinted that he didn’t want to be CEO anymore, but he was worried that no one could fill his shoes. The struggle is real, even for the big shots.
So, there you have it – the saga of Tesla and Elon Musk. Will Musk stay or will he go? Only time will tell. But one thing’s for sure, the drama at Tesla is far from over. Stay tuned for more twists and turns in this electric tale.
