the man who was once thought to be a possible successor to Tesla CEO Elon Musk is now leaving the company Zachary kirkon who served as Tesla's Chief Financial Officer for the past four years will assist with the transition through the end of the year during his tenure Tesla posted its first quarterly profit after it launched the mass Market model 3 compact sedan and hit a market valuation of more than one trillion dollars announcing his decision kirkhan put out a post on LinkedIn saying being a part of this company is a special experience and I'm extremely proud of the work we've done together since I've joined over 13 years ago he also thanked musk for his leadership and optimism [Applause] [Music] replacing Kirk on in the CFO role dubbed as a master of coin by the company is Indian origin web of taneja the 45 year old is a Delhi University alumnus he is also known for his Acumen with numbers he spent 17 years at PWC one of the big four accounting firms he started in India and later relocated to the U.S along with the firm he then spent a year at a solar energy company called Solar City which was acquired by Tesla in 2016. he then led the successful integration of both the company's accounting teams he was also appointed as a director for Tesla's India arm back in January 2021. he will now take on the role of CFO in addition to his job as the chief accounting officer [Applause] [Music] back in June musk met with prime minister Narendra Modi in the U.S where he said that he was Keen to make significant investments in India senior Tesla Executives have also had high profile meetings with Union minister piyush goyal to discuss the company's plans in India Tesla wants to build a factory in India which makes low-cost EVS which would be around 25 percent cheaper than their current entry model [Applause] Tesla this year has cut prices on its vehicles in an effort to prioritize sales growth and market share squeezing is industry leading margins it's hinted at more such price cuts to come in what must cause turbulent times as rising borrowing costs take a toll on the sales of electric vehicle makers foreign [Music]
