In a significant development, Tesla, the renowned American automobile giant, has announced the appointment of Vaibhav Taneja, an individual of Indian origin, as its Chief Financial Officer. Currently serving as the Chief Accounting Officer, Taneja will be assuming the role of CFO in addition to his existing responsibilities. This transition comes as Zachary Kirkhorn, who has dedicated 13 years to Tesla, concludes his tenure as CFO.
Source: MT/Sprout
The Elon Musk-led company has not disclosed the rationale behind this change; however, it is anticipated that Kirkhorn will continue in his role until the year’s end to facilitate a seamless transition. Expressing his sentiment, Kirkhorn shared in a LinkedIn post, “Being a part of this company is a unique journey, and I take immense pride in the collective accomplishments we have achieved since I became a part of the team over 13 years ago.”
Source: CNBC
Taneja’s Journey from Delhi University to Tesla’s CFO
A graduate in commerce from the University of Delhi, Vaibhav Taneja (45) joined Tesla’s ranks after the company acquired SolarCity in 2016. In addition to his role as Chief Accounting Officer, he also took on the notable position of “Master of Coin” within the company, as stated by the organization.
Indian-origin Vaibhav Taneja becomes new Tesla Chief Financial Officer
Read @ANI Story | https://t.co/ry3YogXnPu#VaibhavTaneja #Tesla #CFO #ElonMusk pic.twitter.com/98j1stDh6F
— ANI Digital (@ani_digital) August 7, 2023
In January 2021, Vaibhav Taneja was additionally named the director of Tesla’s Indian subsidiary, Tesla India Motors, and Energy Private Limited. According to a report by Moneycontrol, Vaibhav brings over two decades of accounting experience to the table, gained through engagements with diverse multinational corporations spanning technology, finance, retail, and telecommunications sectors.
Source: ET Auto
Amidst Tesla’s endeavor to amplify its sales and secure a larger market share, this appointment arrives. In pursuit of this objective, the automotive giant even implemented price reductions for its vehicles, a move that exerted pressure on its industry-leading profit margins, according to a report from Reuters news agency.
#ElonMusk-led electric car manufacturer #Tesla has appointed Indian-origin Vaibhav Taneja as its Chief Financial Officer (#CFO), succeeding Zachary Kirkhorn who held the position for 13 years. Kirkhorn revealed this change through his Linkedin account. pic.twitter.com/46T3yZIEnN
— Mirror Now (@MirrorNow) August 8, 2023
Notably, the departing Chief Financial Officer, Zachary Kirkhorn, was previously regarded as a potential successor to Elon Musk. This consideration arose when investors raised apprehensions regarding the succession strategy at Tesla. In addition to his role at Tesla, Elon Musk presently leads other prominent ventures including SpaceX, Neuralink, and the Boring Company. Furthermore, he assumes the position of Chief Technology Officer at X, formerly recognized as Twitter.
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