The Indian American will assume his role as the “Master of Coin” in addition to his job as chief accounting officer
Our Bureau
Austin, TX
Zachary Kirkhorn, the finance chief of Tesla has stepped down after working for four years in this role in the world’s most valuable automaker and selected accounting head Vaibhav Taneja to replace him, stated the company.
During his tenure, Tesla posted its first quarterly profit after it launched the mass-market Model 3 compact sedan, thereby hitting a market valuation of more than $1 trillion.
Being a part of Tesla is a special experience and I’m extremely proud of the work we’ve done together since I joined over 13 years ago, said Kirkhorn. Tesla did not specify any reason for the move.
Vaibhav Taneja, aged 45, joined Tesla as the automaker acquired SolarCity in 2016. He will assume his role or the position of so-called “Master of Coin” apart from his job as chief accounting officer, Tesla said.
The Austin, Texas-based automaker has cut the prices of its cars in a move that prioritized sales growth and market share and squeezed its industry-leading margins this year. Musk termed it “turbulent times” as borrowing costs are rising which is taking a toll on the sales of electric-vehicle makers.
