In March, Tesla's board reportedly initiated a search for a new CEO to potentially replace Elon Musk due to dissatisfaction over the company's plunging stock price and disappointing financial results. As Tesla's stock fell by 45% in 2023, board members expressed concerns about Musk's focus, which was divided between Tesla and his government initiatives. Although Musk recently announced he would step back from governmental roles to return to Tesla, the impact on the board's succession planning remains unclear, with questions about whether Musk was informed of the CEO search.
Tesla's board reportedly initiated a search for a new CEO to replace Elon Musk, reflecting growing concerns over the company's declining stock prices and performance.
Tesla's stock has plummeted by 45% this year, leading to board dissatisfaction, while Musk splits his time between Tesla and government duties.
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