Tesla's Chief Financial Officer Zachary Kirkhorn has stepped down unexpectedly from the position.
A company veteran of 13 years, Kirkhorn stepped down from the role on August 4, but he will remain with Tesla through the end of the year to enable a smooth transition.'s departure."During his tenure, Tesla has seen tremendous expansion and growth. Tesla thanks Mr. Kirkhorn for his significant contributions," the company said in a regulatory filing today, according toTesla named its accounting head, Vaibhav Taneja, as its new CFO.
later this year and is seeing increasing competition in the EV market. The company has been lowering prices since the start of the year to maintain its No. 1 spot in the EV industry. Zach Kirkhorn was appointed Tesla CFO in early 2019 when he was 34. The company has been consistently profitable since then and even repayed about $10 billion of debt in the past three years. The debt repayments helped Tesla secure investment-grade ratings. Before 2019, Tesla had a long history of losses, occasionally burning more than $1 billion of cash per quarter.
Kirkhorn, a graduate of the University of Pennsylvania, joined Tesla in March 2010 as a senior analyst in the finance department. He worked under his predecessors as CFO, Deepak Ahuja and Jason Wheeler.More stories on high-profile executive departures from Tesla
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: WSJ - 🏆 98. / 63 Read more »