Tesla Motors Inc CFO Deepak Ahuja announced that he would leave the firm on July 9, but he’s taking a new job. The man who kept Tesla Motors afloat in the worst of times has taken a new job on the board of a major cybersecurity concern, though it’s still not clear what his plans for the future are.
FireEye, Inc. announced on Tuesday that it was putting Michael Berry as the firm’s CFO while putting Deepak Ahuja on the firm’s board. Industry experts are often put on the boards of other firms, even if they’re serving in exec positions. Mr. Ahuja is still CFO at Tesla Motors, but his time at the firm will come to a close at the end of 2015.
Tesla Motors loses its CFO
We don’t know how Tesla Motors runs in the top room, but we can be sure of some things. Tesla Motors is financially difficult. The firms runs itself off of expertly timed stock sales and taking advantage of debt, from both Wall Street and those that love the firm enough to put down a deposit.
Mr. Ahuja was key in organizing the many different ways in which Tesla Motors endeavoured to keep itself running over the last few years. His hand will likely be missed in the firm’s affairs going ahead. Mr. Ahuja worked at Ford before Tesla Motors, and was the first CFO Elon Musk’s firm had.
Since his departure was announced, Mr. Ahuja has been busy. Tesla Motors has made a couple of massive steps in financing itself in recent months, from a $500M line of credit out of Wall Street to a massive $700M stock issue.
On his retirement Mr. Ahuja said “It is time for me to check a few things off my bucket list and pursue other life goals.” He said that his “time at Tesla has been a nonstop adrenaline rush,” and that he thought he had built “a solid foundation for Tesla’s long-term success.”
Tesla Motors CFO finds a new job
Serving on the board of firm is a much lower impact exercise than working as CFO. It’s not a full time job in most cases, and all it requires, for the most part, is showing up to meetings and collecting a cheque. Mr. Ahuja isn’t leaving Tesla Motors to take another comparable job, at least not as far as we know.
It’s not clear if Mr. Ahuja will go on to take a full time role or if he intends to spend more time on other projects going ahead. His skill in keeping Tesla Motors above water, as well as his nominal attachment to the firm, puts his CV at the top of almost any pile.
It’s not likely he’ll end up as CEO of Twitter, but his presence in the top team of almost any growing tech firm could be considered.