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Indian-Origin Executive Vaibhav Taneja Appointed CFO Of Tesla After Company Veteran Zach Kirkhorn Quit
Tesla appoints Vaibhav Taneja as CFO
American electric car maker Tesla has announced the appointment of Vaibhav Taneja, an Indian-origin executive, as its chief financial officer.
Taneja, 45, who is serving as the chief accounting officer since March 2019, will take on the additional responsibility of CFO.
He will be replacing Zachary Kirkhorn, who has stepped down unexpectedly after being with Tesla for 13 years. He was regarded as one of Elon Musk’s closest lieutenants at the company.
Kirkhorn was even once considered a potential successor to Musk. This consideration arose when investors expressed concerns about Tesla's succession plan.
In addition to Tesla, Musk leads SpaceX, Neuralink, and the Boring Company. He also serves as the Chief Technology Officer of X (formerly known as Twitter).
The reason for the CFO change was not specified. However, Kirkhorn is expected to remain in his position until the end of the year to ensure a "seamless transition."
"During his tenure, Tesla has seen tremendous expansion and growth. Tesla thanks Mr. Kirkhorn for his significant contributions," the company said in an official filing on Monday (7 August).
In a LinkedIn post, Kirkhorn expressed his pride in the work done during his time with the company.
Taneja, a commerce graduate from the University of Delhi, joined Tesla following the company's acquisition of SolarCity Corporation, Musk's solar power company, in 2016.
Before SolarCity, Taneja had spent nearly 17 years at PricewaterhouseCoopers in India and the US.
In addition to his role as chief accounting officer, Taneja has also taken on the significant position of "Master of Coin" within the organisation, a position held for the last four years by Kirkhorn.
In January 2021, Taneja was appointed as a director for Tesla's Indian arm, Tesla India Motors and Energy Private Limited.
He reports "more than 17 years of experience working with multinational companies in technology, retail & telecommunication" on LinkedIn.
Tesla has appointed a new CFO in an effort to increase sales and gain more market share. This decision was made after the company lowered the prices of its cars, which affected its profit margins, according to a report by Reuters.
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