Tesla’s Chief Monetary Officer Zachary Kirkhorn has formally stepped down, as proven in a submitting made public this week. The automaker has already named a substitute for Kirkhorn, although it stays to be seen what the now-former CFO will go on to do.

Above: Tesla automobiles parked in loads (Picture: Casey Murphy / EVANNEX).

Kirkhorn has stepped down because the CFO at Tesla, although he’ll stay “via the tip of the 12 months,” in keeping with an 8-Ok submitting with the Securities and Alternate Fee (SEC) dated August 4 (by way of Reuters and Yahoo Finance). Tesla has appointed head of accounting Vaibhav Taneja to take Kirkhorn’s place. Kirkhorn additionally posted on LinkedIn following the announcement, thanking the corporate, its staff and CEO Elon Musk for his 13 years of working for Tesla.

“Being part of this firm is a particular expertise and I’m extraordinarily happy with the work we’ve executed collectively since I joined over 13 years in the past,” Kirkhorn wrote within the put up. “As I shift my tasks to help this transition, I need to thank the gifted, passionate, and hard-working staff at Tesla, who’ve completed issues many thought not doable.”

“I additionally need to thank Elon for his management and optimism, which has impressed so many individuals,” Kirkhorn added.

Kirkhorn’s departure additionally elicited a response from Musk on Twitter, who acknowledged the chief for “his many contributions to Tesla over the course of 13 typically troublesome years.”

I want to thank Zach Kirkhorn for his many contributions to Tesla over the course of 13 typically troublesome years.

A lot appreciated and greatest needs for the subsequent stage of his profession.

— Elon Musk (@elonmusk) August 7, 2023

It isn’t but clear what Kirkhorn plans to do after leaving Tesla, although his remaining on the firm via the tip of the 12 months can be targeted on supporting the transition. Kirkhorn has labored as CFO at Tesla, dubbed “Grasp of Coin,” since 2019, navigating the corporate via the COVID-19 pandemic and scaling the corporate’s manufacturing to a world stage.

“Throughout his tenure, Tesla has seen large growth and progress,” Tesla mentioned in an announcement to the press. “Tesla thanks Mr. Kirkhorn for his important contributions.”

Forthcoming CFO Taneja has served in a number of monetary positions on the automaker since becoming a member of the corporate via the 2016 SolarCity acquisition, in keeping with the corporate.

Following the information, analysts have famous Kirkhorn’s soft-spoken management at Tesla and his relationship with Musk. Typically heard and seen on earnings calls and different vital occasions, Kirkhorn was thought of a a very good communicator, in keeping with International Investments senior portfolio supervisor Thomas Martin, who can also be a Tesla investor.

“He was capable of be an efficient liaison communicator between Elon and different executives,” Martin mentioned. “…that may be a skillset that’s exhausting to come back by and really precious however exhausting to quantify.”

Above: Tesla Replaces CFO (Video: Bloomberg by way of YouTube)

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Sources: SEC / Reuters / Yahoo Finance / LinkedIn / Twitter / Bloomberg (by way of YouTube)