Tesla has announced Chief Financial Officer (CFO), Zach Kirkhorn, is stepping down from his role after more than 13 years with the company.
The departure was announced in a regulatory filing on Monday, which also named Vaibhav Taneja, Tesla’s former chief accounting officer, as the new CFO. Taneja, who has been with the automaker since 2017.
As of August 4, 2023, Tesla, Inc. (“Tesla”) appointed Vaibhav Taneja as Chief Financial Officer in addition to his current role as Chief Accounting Officer, to succeed Zachary Kirkhorn. Mr. Kirkhorn stepped down as of August 4, after a thirteen-year tenure with the company, the last four years of which he has served as Master of Coin and Chief Financial Officer. During his tenure, Tesla has seen tremendous expansion and growth. Tesla thanks Mr. Kirkhorn for his significant contributions. Mr. Kirkhorn will continue to serve Tesla through the end of the year to support a seamless transition.
Kirkhorn departure is effective August 4, 2023, but he will remain at the company through the end of the year to support the transition. Kirkhorn also announced his departure on Linkedin.
Kirkhorn first joined Tesla in 2010 as a senior analyst in the finance department. Since then he has quickly risen through the ranks, holding other titles such as Senior Manager, Director, and Senior Director, before becoming Vice President – Finance, in 2018. Kirkhorn held that position for just four months before assuming the role of CFO in March 2019. Under his tenure, Tesla experienced a period of remarkable expansion and growth, evolving from a company with a history of losses and cash burn to a consistently profitable enterprise.
Kirkhorn has not announced where he will be working after his time with Tesla comes to a close at the end of the year.
Shares of Tesla (TSLA) are trading down about 4% following the announcement.