Tesla's CFO Zachary Kirkhorn steps down

Zachary Kirkhorn, Tesla's chief financial officer, is stepping down from his position after 13 years with the company. Vaibhav Taneja, the current chief accounting officer, is set to take over the role. Despite the change in leadership, the company's future plans remain unclear.

Kirkhorn's Resignation:

Zachary Kirkhorn has resigned from his role as Tesla's CFO after 13 years.

He will continue to serve in his role through the end of 2023 to assist with the transition.

The reason for Kirkhorn's departure is not clear, and his future plans are unknown.

Taneja as Successor:

Vaibhav Taneja, Tesla's current chief accounting officer, will succeed Kirkhorn.

Taneja has held several positions within Tesla since February 2017 and also worked at SolarCity Corporation, which Tesla acquired in 2016.

The company's filings do not mention if Taneja will also take the informal title 'Master of Coin'.

Impact on Tesla's Stock:

Tesla's stock experienced a slight drop following the announcement of Kirkhorn's departure.

The stock continues to fall as the market opens.

SolarCity Corporation Controversy:

Tesla shareholders filed a lawsuit against CEO Elon Musk over the acquisition of SolarCity, alleging it was a bailout.

In 2022, a Delaware judge ruled in Musk's favor.