Tesla’s Finance Chief Zachary Kirkhorn Resigns; Vaibhav Taneja to Assume Charge
- ByStartupStory | August 8, 2023
Tesla‘s Chief Financial Officer, Zachary Kirkhorn, has stepped down after a four-year tenure, according to the US automaker. The role will be taken over by Vaibhav Taneja, of Indian origin, who currently serves as Tesla’s chief accounting officer. Kirkhorn, who has been with Tesla for 13 years, will assist in a smooth transition until the year’s end.
During Kirkhorn’s tenure, Tesla achieved significant milestones, including its first quarterly profit with the launch of the mass-market Model 3 compact sedan and surpassing a market valuation of over $1 trillion. Kirkhorn assumed the CFO position in March 2019, succeeding Deepak Ahuja, who held the role from March 2017 to March 2019. The changes were announced by Tesla CEO Elon Musk during an analyst conference call discussing quarterly results.
In a LinkedIn post, Kirkhorn said he has stepped down from his role as Tesla’s CFO. “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.” Taneja joined Tesla after the automaker acquired SolarCity in 2016. He takes on the role, or the so-called “Master of Coin” position, in addition to his job as chief accounting officer, the automaker said. Prior to joining Tesla, Teneja spent nearly 17 years at the consulting and tax services firm PwC.
Vaibhav Taneja joined Tesla following the automaker’s acquisition of SolarCity in 2016. He takes on the CFO role in addition to his current position as chief accounting officer. Taneja’s background includes nearly 17 years at consulting and tax services firm PwC. He holds a commerce degree from Delhi University, studied accountancy at the Institute of Chartered Accountants of India, and became a certified public accountant in 2016.
In recent times, Tesla has lowered car prices to prioritize sales growth and market share, leading to tighter margins. The company has also hinted at potential further price reductions amid challenging circumstances driven by rising borrowing costs affecting electric vehicle sales.
Elon Musk, currently leading SpaceX, Neuralink, and Boring Company, also serves as the chief technology officer at the social media platform X, formerly known as Twitter.
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