Indian-born Vaibhan Taneja has been named Tesla's new chief financial officer (CFO) after previous CFO Zachary Kirkhorn announced his decision to step down, the automaker said in a company statement on Monday.

Taneja, 45, was named Tesla's chief financial officer on Friday, in addition to his current role as chief accounting officer (CAO) of the US electric car giant, according to Kirkhorn, who has been Tesla's cash manager and chief financial officer for the past four years, retired.

Taneja has served as Tesla's CAO since March 2019 and as the company's controller since May 2018. Before that, Taneja worked for PricewaterhouseCoopers in both India and the US from July 1999 to March 2016, the company said in a statement.