The executive seen by many as the possible successor to Elon Musk at Tesla has resigned from the company.
Chief Financial Officer Zach Kirkhorn stepped down from his role after four years, where he worked closely with Musk to turn Tesla into a worldwide automotive powerhouse. He turned in his resignation Friday, and it was reported on Monday by the electric vehicle maker.
Chief Accounting Officer Vaibhav Taneja was appointed as CFO, Tesla said.
Kirkhorn’s decision comes less than a month before Tesla is scheduled to debut its much-hyped Cybertruck pickup. It also raises questions about succession planning for Musk, The Wall Street Journal reported.
Musk is 52 and runs several companies, including SpaceX and X, the social media platform formerly known as Twitter, the newspaper said.
Kirkhorn, who has worked for Tesla for 13 years in numerous roles, was mentioned as a possible successor to Musk, the newspaper reported in May.
Telsa stock was down on the New York Stock Exchange by 2.07% as of 1:30 p.m. CT. It was selling for $248.61 a share.
Tesla thanked Kirkhorn, 38, for his “significant contributions” to the company in a securities filing. It said he would continue with the automaker through the end of the year to support a “seamless transition.”
Kirkhorn, who originally joined Tesla in March 2010 to lead cost reduction and manufacturing efficiency efforts, thanked Musk for his leadership and optimism in a social media post.
“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,” Kirkhorn said on LinkedIn.
“As I shift my responsibilities to support this transition, I want to thank the talented, passionate, and hard-working employees at Tesla, who have accomplished things many thought not possible,” Kirkhorn wrote.
Kirkhorn’s departure is the second CFO replacement since 2019. When Deepak Ahuja left, the company’s stock dropped 4.5%, CNBC reported.
Taneja previously was Tesla’s chief accounting officer, CNBC said. He has been at Tesla since 2017. He worked for SolarCity before joining Tesla. He also worked for PwC for about 17 years. PwC is Tesla’s auditor.
