In recent weeks, rumors have been circulating that Tesla CEO Elon Musk is looking for a new CEO to take some of the reins off his hands. According to sources, he is looking for an experienced executive with a background in automotive or tech, and is even willing to spend up to $50 million to secure the right candidate. However, it’s now looking like Elon Musk isn’t actually all that serious about giving away any of his power—in fact, it looks like he might just be using this potential transition as a ploy to gain more and better control of his company.
First, he has made it clear that he doesn’t want to give up any of his vested authority. According to Musk, the new CEO would simply help him “focus more on the product and technology development.” This shift in his phrasing of the new hire speaks volumes: Musk isn’t looking to turn over a huge swath of control, only a few roles in his own capacity to lighten his own workload.
What’s more, Musk is also not willing to give the new CEO the kind of authority that comes with the title. He has made it quite clear that the new CEO would “report” to him, rather than be an equal partner in the decision-making process. He has also made it known that the new CEO would “take some of the operational burden off [his] plate,” a clear indication that he wants to retain control of the company’s operations.
Finally, and perhaps most tellingly, this whole situation has been handled in a manner that looks less like a search for a new leader and more like another move by Elon Musk to maintain control. Over the last months, he has tweeted and released statements about the potential new CEO, instead of more formally announcing the position. Musk is essentially using this situation as an opportunity to manipulate the media, using the potential for a new executive to draw attention to his plans for Tesla.
All together, this points to one conclusion: Elon Musk isn’t serious about giving away any of his power. It appears he is using the potential for a new CEO as a tool to get more of the spotlight on himself and his plans for Tesla. It remains to be seen just how much of an impact the potential new leader could have on the company—but it seems quite clear that Musk is firmly in the driver’s seat and doesn’t plan on relinquishing any of his control anytime soon.
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