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Tesla Board Opened Search To Replace Elon Musk As CEO
(www.investors.com)
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this post was submitted on 01 May 2025
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politics
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Now that every Tesla investor's worst fears were confirmed by the recent earnings call, there is almost certainly a shareholder class action lawsuit on the way. He can't claim that their losses are due to the vagaries of the stock market, they are directly tied to his personal behavior. He went on a narcissistic ego bender, throwing up Nazi salutes, waving chainsaws, and eagerly gloating about destroying the goverment and firing tens of thousands of people, among other things. It was a reasonable expectation that his behavior would have a negative effect response from the public, and damage both his, and the company's, brand image, and yet he did it anyway.
After that self-indulgent display, the shareholders aren't going to just accept their significant losses with an "Oh, well," while he continues on as the world's wealthiest man. They are going to want satisfaction. The only real question is do they sue him alone, or do they also sue the board members for not reigning him in and/or removing him? This report that they are looking for a replacemt means that they've decided to use the nuclear option, and get rid of him, hoping that will keep the shareholders from naming them as defendents, too.
Tesla is almost surely cooked by now. The damage he has done to their brand image is irreparable. The media always treated Tesla deferentially, treading lightly on any bad news, which was often. That media image allowed the stock price to inflate comically into a classic bubble.
Now his behavior has flipped the script, and his stock bubble has popped, and once a bubble has popped, it never reinflates. In the foreseeable future, nearly all media reports will focus on the negative, and the brand image will continue to be poor, and the stock will continue to have an overall decreasing trend. There is no reason to believe that the company's brand image, once flying high, will improve over the rest of the year, and future earnings calls will continue to be negative. And it isnt just happening in America. If anything, foreign markets are in even worse shape.
Yeah, he's about to get sued, and he doesn't have a single defense that could save him. This is ALL him, and the shareholders will hold him responsible in court.
Tesla will file for bankruptcy in two years.