Tesla’s chair Robyn Denholm has rejected a Wall Street Journal report that the company’s board has begun a search process for a new CEO to replace Elon Musk. The Journal reported Wednesday that Tesla’s board contacted executive placement firms in March to look for Musk’s replacement,

Musk convinced his board to hand him a monster pay package—but that was before Tesla lost more than $500 billion in market value.

“With respect to humanoid robots, I don’t think there’s any company in any country that can match Tesla,” Musk said in an earnings call Tuesday in response to a question about competition between China and the U.S. in the development of physical AI and drones.