(Alliance News) - Tesla Inc on Monday said that it has appointed its chief accounting officer, Vaibhav Taneja, as its new chief financial officer following the resignation of Zachary Kirkhorn.

Taneja assumes his new role as CFO in addition to his responsibilities as chief accounting officer.

The electric vehicle maker told investors that Kirkhorn, who has been with the company for 13 years, stepped down as of August 4. It added that Tesla has seen "tremendous expansion and growth" during Kirkhorn's tenure, and thanked him for his "significant contributions".

Kirkhorn will continue to serve Tesla through the end of the year to support a seamless transition.

Prior to this appointment as CFO, Taneja served as Tesla's chief accounting officer since March 2019, as corporate controller from May 2018, and as assistant corporate controller between February 2017 and May 2018.

Tesla shares were down 3.0% at USD246.33 in New York on Monday morning.

By Holly Beveridge, Alliance News reporter

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