Tesla names new chief accounting officer

Tesla Inc. is filling a significant void in its finance team with a former chief financial officer of computer-drive maker Seagate Technology Plc.

Dave Morton, who had worked for Seagate since 1995, has joined Tesla as chief accounting officer, the electric-car maker said in a blog post. Morton, 46, will earn an annual base salary of $350,000 and receive a $10 million new-hire equity grant that vests over four years, according to a regulatory filing.

Tesla had been without an accounting chief since Eric Branderiz left the company for personal reasons on March 7. Management upheaval has continued since then, with the most notable loss being Doug Field, the engineering boss who left last month. Chief Executive Officer Elon Musk announced in June that about 9 percent of employees would be dismissed as part of a reorganization aimed at reducing costs and becoming profitable.

Tesla's offices
Signage is displayed at the entrance to the new Tesla Inc. showroom in New York. Photographer: Mark Kauzlarich/Bloomberg

Morton will report to CFO Deepak Ahuja and be responsible for Tesla’s corporate financial reporting, global accounting, payroll, tax and trade activities.

Tesla reports second-quarter earnings Wednesday after the close of trading.