Tesla CFO to Leave Position after 4th Quarter 2023

Tesla CFO Leaving at FYD 2023 

Tesla Chief Financial Officer, Zach Kirkhorn, and “Master Of Coin,” has announced plans to leave the company, ending a successful 13-year run that some thought would result in him taking over as CEO eventually. Kirkhorn submitted his resignation last week, but his departure was announced Monday in a regulatory filing. Tesla’s Chief Financial Officer Zachary Kirkhorn has stepped down after four years and six months in the role. Tesla’s valuation grew from $50 billion to $773 billion while Zach Kirkhorn was CFO.

“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.

Taneja in as New CFO

Vaibhav Taneja, most recently Tesla’s chief accounting officer, will take over the job of CFO. It is unclear if Taneja will be taking over the “Master of Coin” position, as well, or if the title will be retired. No reason for Kirkhorn’s departure was given. Tesla, which generally does not respond to media queries, did not answer questions about the personnel change or job titles.

Taneja started as vice president of accounting operations at Solar City, a solar energy company controlled by Elon Musk, in 2016, the same year it was acquired by Tesla. He became assistant corporate controller at Tesla the following year, according to his LinkedIn profile. He became chief accounting officer in 2019.

Kirkhorn will continue to work at the company to assist with the transition through the end of this year, according to the SEC filing.

Our Take

It is a huge commitment to being CFO at a company like Tesla and Zack may want to explore other options. He has built a personal wealth of over $590 million while at Tesla and has the resources and talent to try new adventures. It will be worthwhile to follow what he does next. Tesla seems to be resilient when executives leave and/or come back without significant waves. We are sad to see Zack leave but wish him well and expect the Tesla growth story to continue as planned.