Tesla’s new accounting chief has SolarCity roots

Tesla has turned to 2 insiders to handle and oversee the corporate’s funds. The automaker formally tapped as its subsequent chief monetary officer Zachary Kirkhorn, a longtime worker who has been a part of the automaker’s finance workforce for 9 years, in response to securities filings posted Thursday. The automaker additionally appointed Vaibhav Taneja, who led the mixing of Tesla and SolarCity’s accounting groups, as its chief accounting officer. Taneja, who will report back to Kirkhorn, will oversee company monetary reporting, world accounting capabilities and personnel. Taneja replaces Dave Morton, who resigned from Tesla in August a month after taking the job. Kirkhorn’s new function was talked about through the firm’s earnings name in January when CEO Elon Musk introduced that CFO Deepak Ahuja could be retiring. Ahuja was Tesla’s CFO from 2008 to 2015, and was changed by Jason Wheeler. Ahuja returned in 2017 after Wheeler stepped down. “There is no such thing as a good time to make this transformation,” Ahuja stated on the time. He famous that after two back-to-back worthwhile quarters, now is perhaps one of the best time. Musk stated Ahuja would doubtless keep on as a senior advisor “for in all probability years to come back.” Kirkhorn first joined Tesla in March 2010, shifting up via varied roles within the firm’s finance division. He left between 2011 and 2012 to earn an MBA diploma from Harvard Enterprise Faculty . His most up-to-date function was as VP of Finance. Kirkhorn will obtain a inventory choice grant of $12 million and a restricted inventory unit grant of $four million, which can be granted and can vest over 4 years in accordance with Tesla’s commonplace fairness insurance policies, in response to the securities submitting posted Thursday. Taneja was most lately Tesla’s company controller. His employment with the automaker started via SolarCity, the photo voltaic firm that Tesla acquired in 2016. Taneja was vp of SolarCity’s accounting division till February 2017. He then served as Tesla’s assistant company controller between February 2017 and Could 2018 earlier than taking the lead place. Taneja will obtain a inventory choice grant of $6 million and a restricted inventory unit grant of $2 million, which can be granted and can vest over 4 years.