Tesla, a prominent American automotive company, has designated Vaibhav Taneja, of Indian origin, as its Chief Financial Officer. Currently he is holding the role of Chief Accounting Officer. Vaibhav Taneja will assume the position of CFO in addition to his existing responsibilities. He will succeed Zachary Kirkhorn, who concludes his 13-year tenure at Tesla.
The Elon Musk-led company didn’t specify the reason for the change, but Kirkhorn is expected to remain in his position till the end of the year to ensure a smooth transition. “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 in a LinkedIn post.
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Delhi University to Tesla CFO
Aged 45, Vaibhav Taneja holds a degree in commerce from the University of Delhi and joined Tesla after the company acquired SolarCity in 2016. In addition to his main role as Chief Accounting Officer, he also took on the important position of “Master of Coin” within the company, as stated by Tesla.
In January 2021, Vaibhav Taneja was also appointed as the director for Tesla’s Indian arm, Tesla India Motors and Energy Private Limited. As per a Moneycontrol report, Vaibhav has an experience of more than 20 years in accounting. He has worked with various multinational companies in technology, finance, retail, and telecommunications.
The appointment comes at a time when Tesla is aiming to boost its sales and capture more market share. The auto major even reduced the prices of its cars following that aim which squeezed its industry-leading margins.
Interestingly, the outgoing CFO Zachary Kirkhorn was once considered the successor of Elon Musk. It was when the investors expressed concerns over the succession plan in Tesla. With Tesla, Elon Musk currently heads SpaceX, Neuralink, and the Boring Company. He also serves as the Chief Technology Officer of X (earlier known as Twitter).
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