Tesla’s Director of Accounting Controllership, Harsh Rungta, has departed from the electric vehicle manufacturer to join Archer Aviation, a leading developer of electric vertical takeoff and landing (eVTOL) aircraft.
With over six years of experience at Tesla under his belt, Rungta has established himself as a tenured member of the team.
He got here from PricewaterhouseCoopers LLP (PwC), Tesla’s unbiased registered public accounting agency, and have become Tesla’s Director of Automotive Income & Power Enterprise Controller.
As per his self-reported LinkedIn credentials, the individual held overall responsibility for managing all accounting functions at Tesla.
Leads the company’s accounting operations in tandem with technical accounting to navigate complex areas such as income recognition, lease accounting, debt financings, and more. and SEC reporting e.g. 10K/10Qs and 8-Ks.
Process and manage comprehensive financial reports and quarterly/monthly accounting cycles.
Collaborate closely with the C-Suite and cross-functional teams to drive multiple strategic enterprise projects forward, including the launch of new products, revenue streams, markets, and manufacturing operations.
• Establish a unified brand presence across all subsidiaries, encompassing automobiles, energy storage, solar power, subscription services, AI solutions, and post-sale support.
Collaborate closely with the procurement, manufacturing, and product teams, as well as the IT department, to streamline and optimize procurement-to-price accounting processes.
Closely involved in financial planning, month-by-month, quarter-by-quarter forecasting, and precision-based evaluation.
Carefully collaborate with Investor Relations and authorized personnel to finalize the Shareholder’s Letter for Earnings reporting purposes.
Accountable for presenting quarterly financial results and operational performance reports to the Audit Committee.
Review of financial statements for over 80 partnership properties, encompassing external trader funds, ensuring compliance with fair value and tax regulations, in addition to preparing requisite statutory filings for insurance companies.
Led the development of streamlined processes, programmes, and controls to successfully implement and operationalize new product launches, including insurance coverage, captive financing, cryptocurrency investments, and fee acceptance for software products and SaaS solutions.
Optimize financial processes by efficiently managing a team dedicated to driving transformation and improvement.
Responsible for coordinating IT system implementations in collaboration with the IT team and Internal Audit to ensure seamless integration and optimal performance.
Oversee and manage the Sarbanes-Oxley (SOX) compliance program, ensuring effective implementation of internal controls and coordination with external auditors to meet regulatory requirements.
In his final year, he rose to the position of director, accounting controllership, where he led and governed all financial and accounting functions within the organization.
In 2023, Tesla’s Chief Financial Officer, Zachary Kirkhorn, departed and was succeeded by Vaibhav Taneja, who had previously served as Chief Accounting Officer.
Since Tesla’s CFO transition, the company has not appointed a new Chief Accounting Officer, effectively elevating Rungta to lead accounting functions.
In an replace to his LinkedIn profile this week, Rungta confirmed that he left Tesla and he’s now ‘SVP Finance & Chief Accounting Officer’ at Archer Aviation.
Tesla has recently suffered another loss as one of its top designers defected to Archer.
Zach Rungta, a key contributor to Tesla’s quarterly financial results, is departing just two weeks prior to the company’s anticipated release of its Q1 2025 earnings.
