Indian-origin Vaibhav Taneja has been named Tesla's new Chief Financial Officer as the previous finance chief Zachary Kirkhorn announced his decision to step down, the automaker said in a company filing on Monday.Know more about him.
#VaibhavTaneja #Tesla #CFO
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#VaibhavTaneja #Tesla #CFO
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00:00 The Indian-origin Vabhav Dhaneja has been named as Tesla's new chief financial officer
00:06 as the previous finance chief, Zachary Kirkin, announced his decision to step down, the automaker
00:12 said in a company filing on Monday.
00:14 Dhaneja, who is 45 years old, was appointed Tesla's CFO in addition to his current role
00:20 as chief accounting officer (CAO) of the US-based electric car major on Friday after Kirkin,
00:27 Tesla's master of coin and finance chief for the last four years, stepped down from the
00:33 post.
00:34 Kirkin's 13-year-old tenure with Elon Musk-led American EV giant was described as one of
00:40 the "tremendous expansion and growth" in the company filing.
00:44 Tesla thanks Mr. Kirkin for his significant contribution.
00:48 Mr. Kirkin will continue to serve Tesla through the end of the year to support a seamless
00:54 transition, it said.
00:55 Kirkin said in a LinkedIn post, "This morning, Tesla announced that I have stepped down from
01:01 my role as chief financial officer, succeeded by the chief accounting officer, Vabhav Dhaneja.
01:07 Being part of this company is a special experience and I am extremely proud of the work we have
01:12 done together since I joined over 13 years ago.
01:17 As I shift my responsibilities to support this transition, I want to thank the talented,
01:22 compassionate and hard-working employees of Tesla, who have accomplished things many thought
01:26 were not possible.
01:27 I also want to thank Elon for his leadership and optimism, which has inspired so many people,"
01:34 he said.
01:35 Meanwhile, Vabhav Dhaneja, the current CFO of Tesla, is a commerce graduate from the
01:40 University of Delhi in India.
01:42 Dhaneja's journey with Tesla began in 2017 after he switched from solar energy from Solar
01:48 City, taken over by Tesla.
01:50 He was initially the vice president of Solar City.
01:53 Later, the role evolved into the corporate controller.
01:59 Dhaneja is described to have played a major role in the successful integration of the
02:04 accounting teams from both companies.
02:06 Also, the question arises why Zachary Kirkin has stepped down as Tesla's CFO.
02:12 Well, Tesla did not give any specific reason behind Kirkin's departure.
02:16 Kirkin, however, will continue to work as Tesla to assist with the transition through
02:21 the end of this year, according to a filing related to the matter at a U.S. Security and
02:26 Exchange Commission.
02:27 The development follows the resignation of Zachary Kirkin, who served as Tesla's finance
02:33 chief for the past four years and won the reputation of "master of coin" over a period
02:38 of time, according to Press Trust of India.
02:42 Meanwhile, Tesla's recently revealed quarterly earnings showed a 20% increase in its share
02:50 value from the same quarter last year.
02:52 Tesla's profit margins were also better than expected.
02:56 They, however, remained smaller than last year due to the declining prices of its vehicles.
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