Tesla Abruptly Loses Zachary Kirkhorn as Its CFO, Fueling Speculations of Internal Disagreements

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When one of the most valuable companies in the world loses its CFO out of the blue, people are bound to talk, especially if the resignation is devoid of the usual flowery language that often accompanies such departures and aims to bestow a sheen of amity to what is usually an acrimonious affair. It is hardly surprising, therefore, that the abrupt resignation of Tesla’s CFO has now set the tongues wagging.

In a tersely worded statement released just moments ago, Tesla disclosed that Zachary Kirkhorn has stepped down as the company’s CFO and would now be replaced by Tesla’s Chief Accounting Officer (CAO), Vaibhav Taneja. Kirkhorn will remain associated with Tesla through the end of 2023 to ensure a seamless transition.

Also, notice how the $TSLA filing did not say anything like "Mr. Kirkhorn's departure is not due to any disagreements with the company" or something like that - something we often see when board members or executives leave?

— funwithnumberz (@funwithnumberz) August 7, 2023

While Tesla did thank Kirkhorn for his contributions, notice the statement’s refusal to stress the absence of any disagreements, a veritable rite of passage when it comes to amicable corporate departures.

This is now fueling a fresh round of speculation. After all, it was Kirkhorn who had predicted toward the start of the year that Tesla’s automotive gross margin (AGM), excluding leases and credits, would remain at 20 percent. However, following successive rounds of aggressive price cuts, Tesla’s AGM declined to 18.1 percent in Q2 2023 and is slated to fall further as Elon Musk continues to show a