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Tesla shares fall on report that company's board seeks new CEO to replace Elon Musk

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Shares of Tesla declined over 3% in overnight trading on Robinhood following the Wall Street Journal's reports.
Tesla shares experienced a significant decline following a report that the company's board is actively seeking a new CEO to replace Elon Musk. The news, which surfaced on May 1, 2025, has sparked widespread speculation about the future direction of the electric vehicle giant. Musk, who has been at the helm of Tesla since its inception, has been a controversial figure, and his leadership style and decisions have often been points of contention among investors and analysts. The board's move is seen as an attempt to stabilize the company and reassure investors amid ongoing challenges, including increased competition and production issues. The search for a new CEO is expected to be thorough, with the board looking for someone who can bring fresh perspectives and steady leadership to Tesla.

Read the Full CNBC Article at:
[ https://www.cnbc.com/2025/05/01/tesla-shares-fall-on-report-that-companys-board-seeks-new-ceo-to-replace-elon-musk.html ]