On August 7, Tesla announced that Zachary Kirkhorn has resigned as its chief financial officer. The electric vehicle manufacturer’s stock fell 1% in pre-market trade after the business nominated Vaibhav Taneja as its new finance chief.

After serving the electric vehicle and solar panel manufacturer for 13 years, the chief financial officer of Tesla is leaving.

During his four years as CFO, Kirkhorn often took part in the company’s quarterly earnings conference calls. According to Tesla, he would stay on until the end of the year to “support a seamless transition”.

Kirkhorn wrote on LinkedIn, “Being a part of this organisation is a rare experience, and I’m tremendously pleased of the work we’ve done together since I joined over 13 years ago.

Taneja joined Tesla in 2016, following the automaker’s acquisition of SolarCity. The automaker announced that he will also serve as CFO in addition to his current position as chief accounting officer.

Tesla has expanded significantly under Kirkhorn’s leadership, despite the absence of any explanation in the petition for the resignation.

Tesla’s chief operating officer (COO) since March 2019 is Vaibhav Taneja. Since May 2018, he has also performed the role of corporate controller for the business. Between February 2017 to May 2018, he worked as the assistant corporate controller. Taneja worked at SolarCity Corporation, a US-based manufacturer of solar panels that Tesla acquired in 2016, in a variety of finance and accounting capacities beginning in March 2016. Between July 1999 and March 2016, he worked at PricewaterhouseCoopers in India and the US.