Tesla CFO, 'Master of Coin' Zachary Kirkhorn steps down

Zachary Kirkhorn, Tesla's chief financial officer and "Master of Coin," stepped down August 4 after 13 years working with the electric vehicle maker, according to a regulatory filing.

Vaibhav Taneja, Tesla's current chief accounting officer, will succeed Kirkhorn. The former CFO will continue his role at Tesla through the end of 2023 to support the transition, according to the company.

Tesla stock dropped slightly on the news and continues to fall as the market opens.

Taneja has worked as Tesla's chief accounting officer since March 2019. Prior to that role, he worked as corporate controller from May 2018, and assistant corporate controller from February 2017 to May 2018. He also worked in various financing and accounting roles at SolarCity Corporation, the solar energy company that Tesla acquired in 2016.

Tesla shareholders had filed suit against CEO Elon Musk and the company over that deal, calling it a bailout and claiming the executive coerced Tesla's board into buying SolarCity. In 2022, a Delaware judge ruled in favor of Musk.

It's unclear why Kirkhorn has departed Tesla, or what his next moves are. The CFO didn't provide any details in a LinkedIn post announcing his departure this morning. Tesla's filing with the Securities and Exchange Commission also did not say whether Taneja would take on the playful title of Master of Coin. Tesla could not be reached in time to comment.