After 13 years with the electric vehicle and solar panel manufacturer, Tesla Chief Financial Officer Zachary Kirkhorn is leaving. Kirkhorn resigned on Friday but will continue to work for Tesla until the end of the year to “support a seamless transition,” according to the Austin, Texas-based firm.
Tesla Inc. shares fell roughly 1% on Monday, joining a broader sell-off in the electric vehicle market. Rivian Automotive Inc. declined nearly 4%, while Lucid Group Inc. fell 3%.
According to a regulatory filing on Monday, Vaibhav Taneja was named CFO in addition to his current post as chief accounting officer. Kirkhorn has been CFO for the previous four years and has participated in the company’s quarterly earnings conference calls on a regular basis.
The filing did not specify why Kirkhorn was leaving, but it did state that Tesla had remarkable development during his time. “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 on Monday in a LinkedIn post. He did not respond to a message requesting clarification.
Tesla CEO Elon Musk acknowledged Kirkhorn’s contributions at the company on Monday.
“I would like to thank Zach Kirkhorn for his many contributions to Tesla over the course of 13 often difficult years,” Musk wrote on his social media site X, formerly known as Twitter.
BREAKING: Elon Musk thanks now former Tesla CFO Zach Kirkhorn for his many years of hard work at the company. https://t.co/wSPoW1mPNG
— Sawyer Merritt (@SawyerMerritt) August 7, 2023
According to corporate filings with the Securities and Exchange Commission, Kirkhorn has sold more than $6 million in Tesla stock this year, either as part of a prearranged trading plan or to fulfill tax obligations on vesting stock options.
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Taneja, 45, has been the chief accounting officer since March of this year, and the controller since May of last. Follow us on our website The Current Online for more latest updates.
