Elon Musk Faces Pressure to Step Down as Tesla CEO Amid Protests and Plunging Stock; Tom Zhu Emerges as Potential Successor
Date: 01-apr-2025 | By: Nuztrend Team
Amid massive protests and a sharp 36% drop in Tesla’s stock in the first quarter of 2025, prominent investor Ross Gerber has publicly called for Elon Musk to resign as CEO or step away from his other roles to refocus on the electric vehicle giant. The suggestion marks growing concern over Musk’s divided attention and Tesla’s slipping market performance.
Speaking to Sky News, Gerber — CEO of Gerber Kawasaki Wealth Management — said, “I think Tesla needs a new CEO. The business has been neglected for too long,” referring to Musk’s ongoing political engagement as head of the U.S. Department of Governmental Efficiency (DOGE) in the Trump administration.
Tom Zhu Gains Traction as Potential CEO
As Musk faces growing scrutiny, the name being increasingly floated as his replacement is Tom Zhu, the President of Tesla China. Zhu is credited with overseeing the rapid expansion of Tesla's Shanghai Gigafactory and implementing one of the company’s most efficient operational models.
Industry insiders say Zhu’s strong performance in China, combined with his engineering background and familiarity with Tesla’s culture, make him a “serious and credible” candidate to take the reins if Musk steps down.
Tom Zhu has already taken on broader responsibilities in global manufacturing and sales, fueling speculation that the transition plan may already be in motion behind the scenes.
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Investor Frustration on the Rise
Ross Gerber, once a vocal Musk supporter, has grown increasingly critical in recent months. “There are too many important things Tesla is doing, so either Elon should come back to Tesla and be the CEO of Tesla and give up his other jobs or he should focus on the government and keep doing what he is doing but find a suitable CEO of Tesla,” Gerber said during the interview.
The investor unrest comes at a time when Tesla faces intense competition in the EV sector from Chinese rivals and legacy automakers, as well as scrutiny over vehicle recalls and delivery delays.
What’s Next for Tesla?
As Tesla prepares to report its next earnings and unveil updates on its autonomous vehicle program, pressure is mounting on the company’s leadership to reassure shareholders. Whether Musk heeds the calls for change — or doubles down — remains to be seen.
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