In an official statement released via Form 8-K, Tesla, declared that as of August 4, 2023, Vaibhav Taneja has been appointed as the new Chief Financial Officer, succeeding the outgoing CFO Zach Kirkhorn, which comes as a surprise shift in leadership.
The change comes after Kirkhorn’s decision to step down following a 13-year tenure with the automaker, during which the company experienced substantial growth and expansion.
Kirkhorn, who held the dual role of Master of Coin and Chief Financial Officer for the last four years, made significant contributions to Tesla’s financial management, allowing the company to weather various challenges and reach new heights. As per the official report, he will continue to serve Tesla until the end of the year to ensure a smooth transition.
Vaibhav Taneja, aged 45, brings a wealth of experience to his new position. Prior to his elevation as CFO, he served as Tesla’s Chief Accounting Officer since March 2019, and Corporate Controller from May 2018. He was also Assistant Corporate Controller from February 2017 to May 2018.
Taneja is no stranger to the world of finance and accounting, having served in various capacities at SolarCity Corporation from March 2016. Before that, he was employed at PricewaterhouseCoopers in both India and the U.S., from July 1999 to March 2016.
“This morning Tesla announced that I’ve stepped down from my role as Chief Financial Officer, succeeded by our Chief Accounting Officer, Vaibhav Taneja. 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,” announced Kirkhorn on LinkedIn.
“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. I also want to thank Elon for his leadership and optimism, which has inspired so many people,” concluded Kirkhorn.
This Form 8-K filing, in compliance with the Securities Exchange Act of 1934, was signed by Tesla’s General Counsel and Corporate Secretary, Brandon Ehrhart, on August 7, 2023. The changing of the guard at Tesla comes during a pivotal time for the company, as it continues to cement its position as a leader in the electric vehicle market.
Update August 7, 8:59pm PDT: Tesla CEO Elon Musk has commented on Kirkhorn’s impending departure, saying, “13 years is a long tour of duty. Zach will spend time with friends & family, then do something else.”
13 years is a long tour of duty. Zach will spend time with friends & family, then do something else.
— Elon Musk (@elonmusk) August 8, 2023