Tesla CFO Zach Kirkhorn steps down

Tesla‘s chief monetary officer, Zach Kirkhorn, stepped down from his place, efficient Aug. 4, the automaker introduced Monday morning in a regulatory submitting. Tesla’s chief accounting officer Vaibhav Taneja was appointed as the brand new CFO and can maintain each roles concurrently.

Shares of Tesla have been buying and selling down about 2.5% on the information.

Kirkhorn will keep on with Tesla via the top of the 12 months to help within the transition, in line with a Securities and Exchange Commission filing. Kirkhorn had served as CFO since March 2019 and had labored for Tesla since 2010.

“As I shift my tasks to help this transition, I need to thank the proficient, passionate, and hard-working workers at Tesla, who’ve achieved issues many thought not potential,” Kirkhorn wrote on LinkedIn.

Kirkhorn’s departure marks the second CFO alternative at Tesla in simply over 4 years. When prior CFO Deepak Ahuja left Tesla in 2019, shares dipped as a lot as 4.5%.

Vaibhav Taneja, Kirkhorn’s alternative and Tesla’s former chief accounting officer, has been with the automaker since 2017. He labored for SolarCity earlier than becoming a member of Tesla, by the use of the automaker’s $2.6 billion acquisition of the photo voltaic installer. Earlier than that, Taneja was employed at PwC for about 17 years. PwC is Tesla’s auditor.

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