Tesla's Q1 2025 earnings per diluted share fell to £0.09 ($0.12) from £0.31 ($0.41) a year earlier as revenue declined markedly year-over-year to £9.68 billion ($12.93 billion) from £12.33 billion ($16.46 billion). Shares are down 30% year-to-date as investors believe CEO Elon Musk is stretched too thin with his business and political roles.
As the EV maker continues to face backlash over Musk's government policies, reports emerged that Tesla is looking for a new CEO. On Wednesday, The Wall Street Journal reported, citing sources, that Tesla's board has contacted multiple executive search companies to begin a formal process of finding a CEO to replace Musk. According to people familiar with the matter, the Tesla board has also been looking for an independent director.
