Connect with us

Hi, what are you looking for?

BigStatesNews.comBigStatesNews.com

Business

Tesla CFO Zach Kirkhorn steps down

Tesla’s chief financial officer, Zach Kirkhorn, stepped down from his position, effective Aug. 4, the automaker announced Monday morning in a regulatory filing. Tesla’s chief accounting officer Vaibhav Taneja was appointed as the new CFO and will hold both roles concurrently.

Shares of Tesla were trading down about 1% on the news.

Kirkhorn will stay on with Tesla through the end of the year to assist in the transition, according to a Securities and Exchange Commission filing. 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 departure marks the second CFO replacement at Tesla in just over four years. When prior CFO Deepak Ahuja left Tesla in 2019, shares dipped as much as 4.5%.

Vaibhav Taneja, Kirkhorn’s replacement and Tesla’s former chief accounting officer, has been with the automaker since 2017. He worked for SolarCity before joining Tesla, by way of the automaker’s $2.6 billion acquisition of the solar installer. Before that, Taneja was employed at PwC for about 17 years. PwC is Tesla’s auditor.

More from CNBC:

Elon Musk says he may need surgery The No. 1 worst state to retire in — it’s not New York or California Berkshire shares hit record high as investors cheer strong earnings, Buffett’s near-record cash pile

This post appeared first on NBC NEWS

You May Also Like

World News

LOS ANGELES — On Tuesday, just minutes after the Supreme Court reversed the conviction of a man who’d made relentless online threats to a...

Business

Mortgage rates turned higher again last week. But the increase did not cut into mortgage demand, as buyers sought newly built homes. Total mortgage...

World News

With his foot on a front porch of a stately home in Charleston, S.C., a canvasser for a $100 million field effort supporting Florida...

World News

HUDSON, N.H. — As he finished up his remarks at an outdoor garden party hosted by a former state senator, Mike Pence made one...