In what might be the most surprising update in Tesla's recent Q4 2018 earnings, long-time CFO Deepak Ahuja announced his retirement from the company. He will be succeeded by Zack Kirhorn, vice president of finance for the electric car manufacturer, who is with Tesla since the days of the original Roadster.
The announcement of the legendary retirement of the CFO was linked close to the end of the call for Q4 revenue, with Chief Executive Elon Mask expressing his gratitude to the executive for his contribution to the company. Deepak, for his part, also thanked Tesla, saying the company is probably the best team in the industry. Despite abandoning his post, Deepak is due to play a role in the company, however, with Elon Mash, saying he will continue to serve as a "senior advisor" for "likely years to come."
This is not to say that Deepak leaves Tesla in serious obstacles. The company announced its second profitable quarter in a row, and the Model 3 production reached a point where the vehicle could be delivered to international markets. During the call to receive, Deepak noticed that he was optimistic about the time to take his post.
"I feel really good about taking Zach. He proved himself for years with the very difficult challenges he was working on," he said.
Tesla's CFO's CFO reiterated Deepak's feelings. During a recent call for earnings, Zack said he looks forward to the increase in the company's energy business.
"I've been deeply in the work of every major program of the Roadster company … to increase our energy business and more things to come in. I think we will start in 2019 with a very strong financial base. We have enough money to start new programs and to develop new technologies, "he said.
This is not the first time Deepak Ahuya to leave Tesla. Back in 2015, a veteran of finance announced his departure from an electric car maker. He was replaced by Jason Wheeler, a former vice president of Google Finance, who later departed from his Tesla financial director to realize his public sector interests. After Willer's departure, Deepak stepped out of retirement to fill Tesa's CFO position with full time.
Deepak Ahuja is among the key executives of Tesla, which has been with the company since the early days. Prior to his hiring an electric car manufacturer in 2008, he had a fairly comfortable position in Ford. In the presentation of graduates from the Northwest University, his Alma Mater, Deepak, said that he was the vision of Elon Musk, who ultimately encouraged him to join Tesla.
"Meeting Elon Mask, and understanding his vision of Tesla, was the moment of changing the game in my life. I felt a passion about this opportunity in a way that I did not feel before," he said.
As Tesla's first CFO, he was among the key executives who helped the company move through its financial problems in 2008. He ultimately helped Tesla through his successful IPO. Ultimately, Deepak Ahuja's contributions to the company are noticeable and it would not be possible to say that Tesla would not be where it is today without the legendary work of the CFO.
Together with the results of the Tesla Q4 2018 of Tesla, the release of Deepak seems to have been negatively received by Wall Street. Since writing, Tesla's shares (NASDAQ: TSLA) fell by 4.68%, trading at $ 294.80.