Tesla CFO Zachary Kirkhorn resigns

• Kirkhorn's departure also stirs new questions about Tesla's succession plans. The Wall Street Journal reported that board members had floated his name as a possible successor to Musk.
• Tesla was valued at around $50 billion when Kirkhorn took over as CFO. The company is now valued at over $780 billion.
• Shares of Tesla ended Monday's session nearly 1% lower.

The big picture: In March, Tesla showed off its bench of executives during its investor day, where Kirkhorn also appeared.

• He'll stay on through the end of the year to help with transition.

What to watch: Kirkhorn, who joined Tesla in 2010 as a financial analyst and was promoted to CFO in 2019, will be succeeded as CFO by Vaibhav Taneja, who will also maintain his role as chief accounting officer.

• No explanation was provided for Kirkhorn's resignation, which came last Friday.

What he's saying, per a LinkedIn post: "As I shift my responsibilities to support this transition, I want to thank the talented, passionate, and hard-working employees at Tesla, who have accomplished things many thought not possible. I also want to thank Elon for his leadership and optimism, which has inspired so many people."

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