Tesla CFO Zachary Kirkhorn Steps Down – After serving Tesla for 13 years, Zachary Kirkhorn, the Chief Financial Officer, is stepping down. However, he will remain with the company until the end of the year to ensure a smooth transition. Vaibhav Taneja has been appointed as the new CFO, in addition to his current role as chief accounting officer.
Tesla’s shares declined 2.4% in Monday afternoon trading, along with a broader sell-off in the electric vehicle sector, affecting Rivian and Lucid as well. While the regulatory filing didn’t mention the reason for Kirkhorn’s departure, it acknowledged his significant contribution to Tesla’s tremendous growth during his four-year tenure as CFO.
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“Being a part of this company is a special experience and I’m extremely proud of the work we’ve done together since I joined over 13 years ago,” Kirkhorn wrote in a LinkedIn post on Monday. He did not respond to a message seeking further comment. According to company filings with the Securities and Exchange Commission, Kirkhorn has sold over $6 million worth of Tesla stock this year.
These sales were made either as part of a prearranged trading plan or to fulfill tax obligations related to vested stock options. On the other hand, Vaibhav Taneja, aged 45, has been the chief accounting officer since March of 2019 and has served as the controller since May of 2018.
As Tesla undergoes this leadership transition, investors and stakeholders will closely observe how Taneja’s dual role as CFO and chief accounting officer will impact the company’s financial strategies. Additionally, Kirkhorn’s departure and stock sales could prompt discussions among analysts and enthusiasts about the potential implications on Tesla’s future growth trajectory and market performance.
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