The business did not state why he was let go. Kirkhorn will be replaced by Tesla’s accounting chief Vaibhav Taneja, who joined Tesla in 2016 as part of SolarCity’s $2.6 billion acquisition.
His departure has sparked doubts about a succession plan at the most valuable automaker in the world, which is run by Musk, who also holds essential positions at SpaceX and X social network, formerly known as Twitter. Musk currently leads both companies.
Soft-spoken Kirkhorn, one of the most visible executives who frequently appeared on calls with analysts and gave presentations on strategy and products, was viewed as a valuable counterbalance to the more erratic Musk.
“He was able to be an effective liaison communicator between Elon and other executives…that would be a skill set that is hard to come by and very valuable but hard to quantify,” said Thomas Martin, senior portfolio manager at Globalt Investments, an investor in Tesla.
Kirkhorn wrote on LinkedIn, “Being a part of this organization is a rare experience, and I’m tremendously pleased with the work we’ve done together since I joined over 13 years ago.
When reached via LinkedIn, Kirkhorn has yet to reply to questions.
According to Gene Munster, managing partner at Deepwater Asset Management, “He’s going to be around until the end of the year, which is evidence that this is just for personal reasons, and the personal reason is likely that working with Elon Musk is hard and he’s done it for 13 years.”
The company has undergone the most significant change since longtime boss Jerome Guillen, who was in charge of its semi-electric vehicles, left in 2021.
“I would like to thank Zach Kirkhorn for his many contributions to Tesla over 13 often difficult years. Much appreciated and best wishes for the next stage of his career,” Musk said in a post on X.
In addition to his function as chief accounting officer, Taneja, 45, also assumes the responsibilities of the role, or the so-called “Master of Coin” position.
Before joining SolarCity in 2016, when Tesla acquired the manufacturer of solar panels for $2.6 billion, he spent nearly 17 years at PricewaterhouseCoopers, one of the big four accountancy firms.
The Austin, Texas-based manufacturer reduced the price of its vehicles this year to increase market share and sales while reducing its already-industry-leading margins.
In what Musk called “turbulent times,” as higher financing costs negatively impact electric-vehicle manufacturers’ sales, Tesla has also hinted at more price reductions.
