Tesla's chief financial officer steps down

Tesla's chief financial officer steps down

Electric carmaker's market value rose from $50 billion to $788 billion during Zach Kirkhorn's tenure

By Ovunc Kutlu

ISTANBUL (AA) - US electric carmaker Tesla's Chief Financial Officer (CFO) Zach Kirkhorn has resigned from his role, according to a Securities and Exchange Commission filing released Monday.

"Mr. Kirkhorn stepped down as of August 4, after a thirteen-year tenure with the company, the last four years of which he has served as Master of Coin and Chief Financial Officer," it said.

"During his tenure, Tesla has seen tremendous expansion and growth. Tesla thanks Mr. Kirkhorn for his significant contributions. Mr. Kirkhorn will continue to serve Tesla through the end of the year to support a seamless transition," it added.

While Tesla's market value was around $50 billion when Kirkhorn became CFO, it was close to $788 billion as of Monday.

The company's stock price soared from around $16 per share in mid-2019 to over $400 in January 2022. It ended Monday at $251.45 per share.

Tesla said it appointed Vaibhav Taneja as the new CFO, in addition to his current role as chief accounting officer, to succeed Kirkhorn, who is 39.

Taneja, 45, has been working at Tesla since February 2017.

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