Tesla’s chief financial officer, Zach Kirkhorn, has stepped down from his role as of Friday August 4.
Tesla has appointed chief accounting officer Vaibhav Taneja to take the CFO role. But
Kirkhorn will stay on at Tesla until the end of the year to help with the transition according to a Securities and Exchange Commission filing.
The automaker announced this Monday August 7 in a regulatory filing.
Shares of Tesla were dipped nearly 3% after the news, but recovered to close down a little less than 1% on the day.
Kirkhorn had served as CFO since March 2019 and had worked for Tesla since 2010.
“As I shift my responsibilities to support this transition, I want to thank the talented, passionate, and hard-working employees at Tesla, who have accomplished things many thought not possible,” Kirkhorn wrote on LinkedIn.
Kirkhorn’s flight denotes the second CFO substitution at Tesla in a little more than four years. Before finance Chief Deepak Ahuja left Tesla in 2019, the organization’s shares plunged as much as 4.5%.
Taneja, Kirkhorn’s replacement and Tesla’s chief accounting officer, has been with the automaker starting around 2017. He worked for SolarCity prior to joining Tesla, via the automaker’s $2.6 billion securing of the sun based installer. Before that, Taneja was used at PwC for around 17 years. PwC is Tesla’s auditor.