Tesla’s board in March contacted multiple executive placement firms to begin a search process for a new CEO to replace Elon Musk at the helm of the embattled electric car company, the Wall Street Journal reported Wednesday night,

Tesla Inc.’s board of directors took steps toward finding Chief Executive Elon Musk’s successor earlier this month, as the EV maker’s stock sank while Musk prioritized his DOGE efforts, according to a new report.

Elon Musk and Tesla's chair early on Thursday vehemently denied a Wall Street Journal report saying the EV company's board had launched a search process for a new CEO to potentially replace the world's richest person.