Will Tesla separate ways with Elon Musk? – Cyprus Newspaper
Electric car manufacturer Tesla denied the allegations that CEO Elon Musk would be dismissed. Robyn Denholm, Chairman of the Company, described the news of Wall Street Journal as “completely unfounded ..
According to the American CNBC channel, it was suggested that the Tesla administration contacted some administrator recruitment companies to determine the name of Musk. Following the news, Tesla shares depreciated up to 3 percent in night operations on the Robinhood platform, but then recovered.
Robyn Denholm, social media platform X said in a statement on the X today, in the early hours, the Tesla Board of Directors started a new CEO search for a news that did not reflect the reality. This is completely unfounded and this situation was reported to the relevant media organization before the news was published, ”he said.
Denholm said that Elon Musk is still the CEO of the company, and that the Board of Directors “fully confident” in the leadership of Musk’s leadership in implementing growth plans.
Sales fell, the remarkable statement from Musk
The allegations came after Tesla explaining the sales and profit data below expectations in the first quarter of the year. The total income of the company decreased by 9 percent compared to the same period of the previous year and fell to $ 19.3 billion. Experts expected this figure to be 21.1 billion dollars.
Tesla’s revenues in the automotive segment decreased by 20 percent to $ 14 billion. In this decline, the popular SUV model Model Y’s renovated version of the production lines with updates and price discounts and sales incentives applied were effective.
The company’s net profit decreased by 71 percent compared to the same period last year and fell to $ 409 million. Profit per share fell from 41 cents to 12 cents.
The statement « State Productivity Department » created controversy
Elon Musk announced last week that Tesla’s financial statements were evaluated and that he would work in Tesla only one or two days a week as of May, and that he would devote the remaining time to the new “State Productivity Department” initiative in the USA.
Musk’s statement created uncertainty among Tesla investors.
Tesla shares have lost more than 30 percent since the beginning of the year.
