Tesla chief financial officer Zachary Kirkhorn has announced that he will be departing the company after 13 years with the the electric vehicle and solar panel maker.

Mr Kirkhorn stepped down on Friday but will remain with Tesla through the end of the year to “support a seamless transition,” according to the Austin, Texas, company.

Shares of Tesla Inc slipped more than 2% at the opening bell amid a broader sell-off in the electric vehicle sector.

Rivian fell 4%a and Lucid fell more than 3%.

Vaibhav Taneja was named CFO in addition to his current role as chief accounting officer, the company said in a regulatory filing.

Mr Kirkhorn has been CFO for the past four years and was a consistent participant in the company’s quarterly earnings conference calls.

The filing gave no reason for the departure, but said Tesla has experienced tremendous growth during Mr Kirkhorn’s tenure.

Mr Kirkhorn has sold more than $6 million (£4.6 million) worth of Tesla stock this year, either as part of a prearranged trading plan or to satisfy tax obligations on vesting stock options, according to company filings with the Securities and Exchange Commission.

Mr Taneja, 45, has been chief accounting officer since March of 2019, and served as controller since May of 2018.