Tesla CFO Zach Kirkhorn actions down

Tesla CFO Zach Kirkhorn steps down

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Zachary Kirkhorn, CFO, Tesla

Source: Tesla

Tesla‘s primary monetary officer, Zach Kirkhorn, stepped down from his position reliable Friday, the car manufacturer revealed Monday early morning in a regulative filing. Tesla’s primary accounting officer, Vaibhav Taneja, was selected as the brand-new CFO and will hold both functions simultaneously.

Shares of Tesla were trading down almost 3% on the news.

Kirkhorn will remain on with Tesla through completion of the year to help in the shift, according to a Securities and Exchange Commission filing. Kirkhorn had actually acted as CFO considering that March 2019 and had actually worked for Tesla considering that 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 composed on LinkedIn.

Kirkhorn’s departure marks the 2nd CFO replacement at Tesla in simply over 4 years. When prior financing chief Deepak Ahuja left Tesla in 2019, the business’s shares dipped as much as 4.5%.

Taneja, Kirkhorn’s follower and Tesla’s primary accounting officer, has actually been with the car manufacturer considering that2017 He worked for SolarCity prior to signing up with Tesla, by method of the car manufacturer’s $2.6 billion acquisition of the solar installer. Before that, Taneja was used at PwC for about 17 years. PwC is Tesla’s auditor.

This story is establishing. Check back for updates.