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Tesla CFO Zach Kirkhorn steps down

Tesla CEO Elon Musk leaves the Phillip Burton Federal Constructing on January 24, 2023 in San Francisco, California.

Justin Sullivan | Getty Photographs

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 1% on the information.

Kirkhorn will keep on with Tesla via the tip of the yr to help within the transition, in keeping 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 wish to thank the proficient, passionate, and hard-working staff 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 between July 1999 and March 2016. PwC is Tesla’s auditor.

—CNBC’s Lora Kolodny contributed to this report.

This story is creating. Test again for updates.

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