Tesla CFO Zachary Kirkhorn exits Elon Musk-led company after 4 years with $590 million fortune
Tesla CFO Zachary Kirkhorn steps down with a $590 million fortune.
Tesla CFO Zachary Kirkhorn stepped down with a $590 million fortune earlier this week. The amount - which manages to pale in comparison to CEO Elon Musk's $230.6 billion net worth - was amassed during his four year stint at the helm.
According to data compiled by Bloomberg the number is comprised mainly of Tesla shares and options he received as compensation. Kirkhorn had received a comparatively modest base salary of $300,000 in 2022. As per the company’s most recent proxy filing, $31,099 in previously accrued paid time off that was applied toward the purchase of a Tesla.
Tesla executives - including Kirkhorn- were not part of the massive moonshot pay package awarded to Musk by the Tesla board in 2018. The amount had incidentally helped catapult the billionaire businessman to the top of global wealth rankings.
Kirkhorn joined Tesla in 2010 as a senior financial analyst and was promoted five times. Most recently, he became the CFO in early 2019 at the age of 34. Many consider Tesla’s financial management under Kirkhorn to have been crucial to its transformation into a disciplined and cashed-up manufacturer.
The Tesla finance chief's abrupt exit has however raised questions - even as many remain cautiously optimistic about former Chief Accounting Officer Vaibhav Taneja's handling of the role. Tesla has not provided any reason behind the exit of the long term employee considered until recently to be a possible successor to CEO Elon Musk.
Following 13 years at Tesla, Kirkhorn will now be staying till the end of the year to support the management transition. His departure comes as Tesla builds a new factory in Mexico and prepares to bring its Cybertruck pickup to market as it fends off rivals in the increasingly crowded EV market.
(With inputs from agencies)
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Business NewsCompaniesNewsTesla CFO Zachary Kirkhorn exits Elon Musk-led company after 4 years with $590 million fortune
First Published:10 Aug 2023, 04:50 AM IST
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