On April 30 (local time), US President Donald Trump said Tesla CEO Elon Musk can work in the White House as long as he wants, but he understands Musk's desire to get back into the company's business.
Trump made the remarks during a cabinet meeting that was open to the media. He also said that the vast majority of people in this country respect and appreciate Musk, and that he can stay as long as he wants. US media reported that this could be the last time Musk attends a cabinet meeting as a consultant to the Department of Government Efficiency.
Tesla board members contacted several executive search firms about a month ago to find a successor to CEO Musk, The Wall Street Journal reported, citing people familiar with the matter. The sources said the board members told Musk that he needed to spend more time on Tesla and that he needed to make such statements publicly. Musk did not object.
Tesla's stock price has continued to fall since Musk began joining the Trump administration, with first-quarter profits plummeting 71 percent, according to the report. Musk later told investors that he plans to "significantly" reduce his work in the Trump administration in May to focus on Tesla.
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