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grant to a raw , brow - raisingWSJ report , Tesla ’s display panel quiet start search for Elon Musk ’s possible successor about a month ago , approaching executive search business firm as the carmaker confront protestation , plummeting sale , and shrivel up profit while Musk pack into Washington to slash governance outlay .
table members reportedly met with Musk to express care about his separate attending , telling him he needed to pass more prison term on Tesla and to in public institutionalize to doing so ; per the Journal story , Musk did n’t push back and subsequently told investors he would “ apportion far more time to Tesla ” starting in May .
Tesla chair Robyn Denholmsaidin a command release overnight that it was “ absolutely simulated ” that the company approached recruitment firms . She also claim “ this was communicated to the metier before the reputation was issue . ” Musk shared the statement and fence it was an “ EXTREMELY forged BREACH OF ETHICS . ” The WSJ has since articulate Teslanever react to the reporters ’ questions .
Musk ’s government work led to Tesla ’s first one-year sales declination in over a decade ; it also tarnished the company ’s marque image among some consumers due to his political conjunction . The impact has been dissolute and furious : Tesla ’s market economic value dropped from $ 1.5 trillion in December to about $ 900 billion currently .
Despite these challenge , Musk sounded optimistic about Tesla ’s future tense during last hebdomad ’s earnings call , where the society reported a 71 % profit decline and 9 % revenue drop-off . ”We’re not on the ragged edge of death , ” Musk assure investors , “ not even close . ”
The current condition of the succession provision stay undecipherable , according to the Journal . It adds that it ’s unclear whether Musk , who has run Tesla for nearly 20 years , was aware of the drive .
This account has been update to let in instruction from Tesla and the WSJ .
