Tesla CFO Zach Kirkhorn Steps Down Ahead of Cybertruck Launch
Hey, this is Tom and we just got word that the Tesla CFO long-standing CFO Zach is now leaving the company. Now it's not really clear if he's leaving on his own accord right now or that he let them know he wants to leave at the end of the year and they pushed it forward without asking him. You know I Saw a few commentaries in that it doesn't really matter now. at this point, the dude was clearly one of the best CFOs in the market.
Just One Look at the balance sheet of Tesla shows you how good Zach was at his job. he was a pro of an elite level. I would put him in top five CFOs Right now in the market, him living obviously is not a good thing for Tesla A lot of Tesla balls are going to be out there on the internet basically explaining why this is the best thing that could happen for Tesla et cetera. Now, whenever we have cheerleaders, we ignore them.
Whenever we have automatic haters, we ignore them. There's also going to be people from Teslaq saying that this is the worst thing because Zach invented the model 3 Zach invented the entire business model without Zach Tesla's falling apart. Both camps are absolutely in the wrong. Let me explain as somebody who spent years: Consulting to a multi National companies I worked for 10 years at Deloitte as a senior manager.
My clients were multinational companies I've seen a lot of good CFOs and I've seen a lot of bad CFOs and I can easily tell them apart from Zach. Hands down, one of the best I've seen. Just look at the balance sheet. it's very clear to see the dude knows what he's doing.
However, having said that, I Have yet to see a company of any caliber underperform on the business side because of a bad CFO A bad CFO is unpleasant. A bad CFO can get you in the heap of trouble. There's a lot of issues that comes with unprofessional money management on the finance side. on the regulation side compliance side.
there's a lot of you know moving Parts with the CFO but no company has ever failed or succeeded because of the Chief Financial Officer That hasn't happened in the history of of of corporate America or any other country. Just look at how many current CEOs of companies will formerly see a goals, How many chief executive officers were formerly Chief Financial Officers I'm sure there's a few, but 95 of them were not the chief financial officers. Usually the people who get promoted are the CEOs or ctOS, etc etc. You get what I'm going or VPR D whatever that may be.
The reason is because with the tech company specifically like Tesla with the growth competitive Tesla With a tech company like Tesla, the role of the CFO is very important. but it's not going to make or break the company. So Zach leaving is definitely a blow for Tesla. No doubt it's going to be very big shoes to fill, but it's not the end of the world for the company.
It's almost at the point where I would say this isn't no news, no offense to Zach but I mean they just got to find a good CFO The thing with Tesla is it's so easy for Tesla to recruit a top-tier talent. So right now every every single professional in finance every single CFO is hunting for that job. It's very lucrative, so they're going to be able to hire somebody like Pro not the same level of Zach but he's going to learn or she's going to learn whatever that may be and they're gonna be fine. If this was Illa the company, we would have had a completely different discussion. but this no news. I'm gonna go back to the pool.
Zachary Kirkhorn has been working "behind the curtain" of Tesla for over a decade. We see the shiny cars and rosy financials in the public sphere, but it's likely quite a different story behind the scenes. Chaos, crises, deaths, blood, sweat, tears, burnout, technological challenges, moral dilemmas, psychological stresses, interpersonal and organizational dramas, wars and rumors of war and their current and potential supply chain impacts. His tenure has been heroic, and his millionaire retirement from Tesla is well earned and well deserved. Kudos.
Zach already not in accord with Elon since March 2023…..anyway who’s care
When the CFO before Zack Kirhorn, Deepak, left… This was brought as a disaster for Tesla, nobody knew anything about its successor Zack Kirkhorn… well we know now Zack has done brilliantly well, and Tesla is in a better financial position than ever!.
But the successor of Zack, Vaibhav Taneja will do just fine as well, a man with a lot of experience in top financial positions, and working for Tesla already a long time as Chief Accounting Officer.. So he knows pretty much everything about Tesla's financials, Tesla's plans and policies…In other words, Tesla will do just fine!
New CFO Vaibhav Taneja is OG in finance field.. He is a chartered accountant.. One of the toughest exam in world..
Does anyone see him going to Lucid? I think that’d be interesting. I am holding some Lucid and would be happy to have him.
Zack leaving CFO position at tesla and paypal needs a new CEO… Hmmmm
They will have had a succession plan in place for all senior leaders for ages. I’d suggest it’s not a question of waiting for people to apply, it’s more a question of those identified waiting for a phone call from Tesla…
Like I said earlier… PALANTIR is comming after Tesla….. wroom wroom tesla move over to a slower lane… palantir is speeding 😳 😅….
Based on my experience and observations, I would consider the unexpected loss of a CFO to be the red flag of red flags. It either means there is a philosophical disagreement between the CFO and the CEO/COO about how funds should be accounted OR the CFO is trying to insulate himself from any anticipated accusations of malfeasance regarding accounting. We have not been given any statement from Zack yet. Until we have something from him, I expect TSLA will be very volatile.
TSLA $0 guaranteed
Buy Tesla! It’s just FUD… it’s no big deal!
Who cares if the CFO is leaving? I don’t …it’s not like he’s in charge of their innovation.
I think krlirkhorn was. Dry instrumental in the developing the financial systems within Tesla. They total integration of self developed ERP system is a big deal. Most companies rely on SAP and other SW apps that require massive integration cycles Fir different parts of the financial enterprise requirements. Often they are Separate apps requiring laborious transfer apps to link them. Teslas is all integrated. It’s a big deal for cost and time critical requirements.
ZK isn't taking all the Tesla money with him. Media overreacts & itchy fingers, too-it's time to load more T$LA.
👍
No big deal he's going to transition the role to Vaibhav Taneja. If your remember Ahuja left and came back before handing it to Kirkhorn…
TSLA 2030 PTs….Go!
Tim Cook was CFO, right?
What about CFO of Enron? Killed the company.
His resignation sounded OK, and leaving two quarters after advising it is not a concern – amicable.
You and your thumbnails 😂
Agree with everything you said.
Zach will be missed. Tesla will be fine.
That’s why stocks are down today below 250 mark
Is it the time to buy more ??
It’s not a bad thing it didn’t say he quit it said he stepped down from the role of CFO , maybe he’s getting another position in the company who knows
No matter how you slice it, this is disappointing news. Zach was an important asset to Tesla. But Tesla will be fine. If he is leaving because he is not a candidate for CEO, good. Accountants as CEOs are rarely a good thing for a company as they see everything as an expense.
Zach left Tesla to be CFO on NKLA!! Loaded on NKLA $3 calls for Sep 15th! Good luck
Thanks for putting things in perspective for us who aren't overly familiar with the CFO position's impact.
Im just wondering how many people out there are walking around with Tom Nash flip flops on.