Tesla's board on Thursday rushed to defend its chief executive, Elon Musk, assuring he had the board's confidence amid rising investor worries about his prolonged absences, polarizing politics and the EV maker's plunging sales and profit.

The chair of Tesla’s board of directors denied a report that the company had begun to look for a replacement for Elon Musk, the CEO who has been spending much of his time working for President Trump while the automaker’s sales and profits plummet.

Musk said The Wall Street Journal deliberately excluded the board’s denial, despite Tesla issuing it after the report was published.