Elon Musk said he would name a successor for the Tesla CEO position, according to investors thinking of the impact the Twitter buyout will have on the electric car-making firm.
Twitter Buyout Urge Musk To Give Up Tesla CEO Position
Tesla director James Murdoch stated in court last Wednesday that CEO Musk recently mentioned a probable successor to head the electric car maker. But he did not name the person; he is in court testifying over the 2018 Tesla pay package, reported Daily Sabah.
The plaintiff's representative asked him if Musk has a replacement in mind as Tesla chief; Murdoch informed that he has but in the last few months.
Some Tesla shareholders are worried that Musk will need to be more capable of giving sufficient focus to his role as CEO of the most valuable automobile manufacturer in the world. Now that he's also the CEO of Twitter Inc., he's made a risky acquisition that he had previously avoided. Murdoch told the court that Musk does have some Tesla engineers operate after the Twitter buyout, a scenario the panel is observing.
A friend of the Tesla founder, Antonio Gracias, has been a board member from 2007 until 2021. He indicated administrative Tesla CEO position is sought to allow the founder to be the product officer, noted Money News.
Without elaborating on the scheduling of the conversations, he said they could not find one. Elon Musk, the chief of Twitter and SpaceX, remarked that being CEO is not his interest.
In his testimony, he asserted that he wanted to work less at Twitter and that the social media giant might eventually get a new CEO. Musk announced Monday that he had spent an entire night working solely at Twitter's headquarters in San Francisco and would continue to work and sleep here until the social media platform, for which he recently paid $44 billion, was fixed.
Elon Musk Intends To Stay with Tesla
After learning the news, Tesla investor Gene Muster posted on social media. He continued by saying that it takes time to find the ideal candidate.
During a Tesla shareholders' meeting in August, the Tesla head was questioned about a change of leadership and responded that he planned on staying as long as he could. Even if he were abducted by aliens or returned to his home planet, Musk stressed, they have a talented team. There won't be any issues for the business.
Murdoch indicated through his testimony that the audit committee for Tesla is keeping tabs on the Twitter scenario. There have been conversations regarding having a few Tesla scientists work for Twitter, citing Head Topics.
The work has been completed, is only temporary, and has been compensated. If Tesla's work was being copied, it was being examined. He even said Musk started asking a few team heads to see if individuals were looking to help Twitter.
In his testimony, Musk confirmed that some Tesla engineers had been testing the engineering staff of the social media platform on volunteer and after-hours work.
Elon Musk is on the lookout for the Tesla CEO position as the board wants someone to replace him due to the Twitter buyout.
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