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Business

Elon Musk announces Tesla's CFO departure during earnings calls




  Xinhua headlines: Tesla breaks the ground on the gigafactory in Shanghai

Xinhua News Agency / Getty Images

With a few minutes to go before Telena's quarterly earnings were closed, Elon Musk surprised investors with news that finance director Deepak Ahuja will leave the company.

His role will be replaced by Tesla's CFO, Zach Kirkhorn. Ahuja retires ̵[ads1]1; for the second time, Reuters reports. The news led to the stock falling by as much as 5.9 percent in late trading, even as the earnings call promised lower prices for the model 3 sedan with a new model Y version .

It's not the first time The electric car manufacturer has seen high profile departures. In September last year, both accountants Dave Morton and Human Resources Manager Gabrielle Toledano left similar effect on Wall Street, as shares fueled as much as 10 percent then .

Everything is not stupid and bleak, as the company said it is possible to enter profits in the first quarter of this year.



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