Tesla Stock Is Sliding Today: What's Going On?

Tesla Inc TSLA shares are trading lower Monday after the company announced a CFO transition.

What Happened: In a new regulatory filing, Tesla said CFO Zachary Kirkhorn stepped down from his role on Friday after 13 years with the EV company. Kirkhorn served as CFO and "Master of Coin" during his last four years at Tesla.

Vaibhav Taneja has been appointed CFO. He will take on CFO duties and maintain his current role as chief accounting officer. Taneja has been Tesla's chief accounting officer since March 2019. He previously worked in corporate controller and assistant corporate controller roles at Tesla between 2017 and 2019.

Kirkhorn will continue to serve Tesla through the end of the year to help support a smooth CFO transition.

The news comes as Tesla shares are up more than 100% since the start of the year, but down about 8% over the last month. Tesla was the most-searched ticker on Benzinga Pro in July. 

See Also: UK Registered An EV Every 60 Seconds In July As Tesla Slips In Bestseller Rankings

TSLA Price Action: Tesla shares were down 3.11% at $246.20 at the time of writing, according to Benzinga Pro.

Photo: courtesy of Tesla.