Tesla's Board of Directors is looking for a successor to Elon Musk - WSJ
Kyiv • UNN
Tesla's board of directors is actively searching for Elon Musk's successor, discussing it with him and engaging recruitment agencies. The possibility of adding an independent director to the board is also being considered.
Tesla's board of directors has begun searching for a successor to Elon Musk, The Wall Street Journal reports, citing sources, writes UNN.
Details
"About a month ago, when Tesla's stock fell and some investors were irritated by Elon Musk's focus on the White House, Tesla's board of directors seriously began searching for a successor to Musk," the report said.
Members of the board of directors, as noted with reference to people familiar with the discussions, approached several executive search firms to agree on a formal procedure for finding the next chief executive officer of Tesla.
It is reported that the Tesla board of directors met with Musk for discussion. Members of the board of directors told him that he needed to spend more time at Tesla, according to people familiar with the talks. And he had to say it publicly. Musk did not resist.
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Meanwhile, according to people familiar with the discussions, the board of directors has narrowed its focus to a large search firm. "The current status of succession planning cannot be determined," WSJ noted. It is also unclear whether Musk, himself a member of the Tesla board of directors, was aware of these efforts, or whether his promise to spend more time at Tesla influenced succession planning. Musk did not respond to requests for comment.
It is also reported that, according to people familiar with the process, Tesla's eight-member board of directors wanted to add an independent director. Some directors, including Tesla co-founder JB Straubel, met with major investors to assure them that the company was in safe hands.