Tesla denies launching search for Musk replacement

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Tesla has denied reports that it has contacted recruitment firms to launch a search for a replacement for Elon Musk as chief executive.

The Wall Street Journal reported on Wednesday that the electric car firm's board began looking for a successor to Mr Musk last month.

It said this was because of frustration around Mr Musk's focus on his job in US President Donald Trump's administration and Tesla's sinking share price.

However, in statement on Thursday, Tesla said the report was "absolutely false", adding "the board is highly confident in [Mr Musk's] ability to continue executing on the exciting growth plan ahead".