Tesla Chief Financial Officer Jason Wheeler will leave the company in April to pursue "opportunities in public policy."
Wheeler will be replaced by Deepak Ahuja, who retired from Tesla in 2015 after being with the company for several years.
The news was announced Wednesday by Chairman and CEO Elon Musk during Tesla's fourth-quarter earnings call.
Ahuja will return to Tesla in early March to work with Wheeler and "ensure a smooth transition," Musk said.
At the time of his departure, Ahuja had been one of Tesla's longest-serving executives and he was in the CFO post at the time of the company's initial public offering. He also helped the company through later post-IPO financing.
Wheeler came to Tesla from Google, now Alphabet, where he had served as its vice president of finance.
"I'm looking to scratch an itch that I had for many, many years now." Wheeler said. "I will go do something in the public sector, but I wouldn't have felt comfortable about leaving if we didn't have a really good plug-and-play solution in place for the company."
During the quarter, orders for Tesla's Model S and X reached record highs and it said its Model 3 is "on track" for initial production in July. The company also completed the acquisition of SolarCity in November and Grohmann Engineering in January.
After the release of its earnings, Tesla shares were trading up more than 2 percent in after-hours trading. Once news of Wheeler's departure was announced, the stock trimmed its gains, but was recently trading hands at $278.30, up 1.8 percent.