Tesla Board Opened Search for a CEO to Succeed Elon Musk (opens in new tab)

(wsj.com)

49 pointsjrpelkonen10mo ago15 comments

15 comments

Given that Tesla was trying to set Musk's compensation at over 100 billion as of December[1], declaring their new CEO to be a rock and then not paying said rock would appear to be a solid interim strategy.

[1]https://www.investopedia.com/elon-musks-multi-billion-dollar...

inverted_flag10mo ago

Before everyone gets excited:

> The board narrowed its focus to a major search firm, according to the people familiar with the discussions. The current status of the succession planning couldn’t be determined. It is also unclear if Musk, himself a Tesla board member, was aware of the effort, or if his pledge to spend more time at Tesla has affected succession planning.

sidibe10mo ago

First thing a new sane CEO does is reset expectations so they're not blamed for not fulfilling all the fantasies Elon kept promising.

l0ng1nu510mo ago

They can't do that or else the stock goes back to a sane p/e.

slantedview10mo ago

If your options are a sane stock price or plummeting profits, a sane stock price may be the wiser choice.

lawn10mo ago

It'll do that anyway, the question is when not if.

mraniki10mo ago

Tesla board denies launching search for Musk's successor https://news.ycombinator.com/item?id=43854106

CyberMacGyver10mo ago

This would just confirm it further.

cebert10mo ago

https://archive.ph/fPyta

NN8810mo ago

Took forever

toomuchtodo10mo ago

They have no choice at this point without facing consequences, including personal liability, for failing their fiduciary responsibility to shareholders. The brand, currently, is toxic based on consumer polling and sales numbers. Even replacing him may not be enough to recover, if he continues to benefit from ownership of shares.

ulfw10mo ago

If anything it would be an utter bullshit CEO-in-name-only like the whatshername from XXX

blindriver10mo ago

Who would have the nerve to try to replace Elon as CEO? I think that's there's no way to "win", and making enemies of Elon is a horrible idea. I think Tesla is ride-or-die with Elon. There's no one who is both smart enough and stupid enough to try to take that job.

cynicalpeace10mo ago

I agree, but there does need to be a successor in the coming years.

Everyone ages.

And often, the greatest leaders' biggest mistakes are not to pick and train a proper successor.

Alexander the Great, Charlemagne, Abraham Lincoln are just a few examples.

arthurz10mo ago

And Elon will still rule behind the shadow

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