Tesla appoints Indian-origin Vaibhav Taneja as CFO

Tesla's Chief Financial Officer Zachary Kirkhorn has stepped down after four years in the role, the US automaker said on Monday. Kirkhorn will be replaced by Indian-origin Vaibhav Taneja, who is currently the chief accounting officer at Tesla. Kirkhorn, who has been with Tesla for 13 years, will remain with the company through the end of the year to aid a smooth transition.

During Kirkhorn's tenure, Tesla posted its first quarterly profit after it launched the mass-market Model 3 compact sedan and hit a market valuation of more than $1 trillion, according to Reuters. Kirkhorn was appointed as CFO in March 2019. He replaced Deepak Ahuja, who served from March 2017 to March 2019. 

Kirkhorn's appointment and Ahuja's exit were announced by Tesla CEO Elon Musk in a surprise move toward the end of a conference call with analysts to discuss the company's quarterly results.

In a LinkedIn post, Kirkhorn said he has stepped down from his role as Tesla CFO. "Being a part of this company is a special experience and I’m extremely proud of the work we’ve done together since I joined over 13 years ago."

Taneja joined Tesla after the automaker acquired SolarCity in 2016. He takes on the role, or the so-called "Master of Coin" position, in addition to his job as chief accounting officer, the automaker said. Prior to joining Tesla, Teneja spent nearly 17 years at consulting and tax services firm PwC. 

Taneja holds a commerce degree from Delhi University. He studied accountancy at the Institute of Chartered Accountants of India and became a certified public accountant in 2016, according to his LinkedIn profile. 

This year, Tesla slashed the prices of its cars in a move that prioritised sales growth and market share and squeezed its industry-leading margins. The company has also hinted at more price cuts in what Musk called "turbulent times" as rising borrowing costs take a toll on the sales of electric-vehicle makers.

Musk currently leads SpaceX, Neuralink, and Boring Company and is the chief technology officer at social media platform X, formerly known as Twitter.

(With inputs from Reuters)