Lucid Motors' CFO to leave as its new CEO continues leadership shakeup

• Lucid Motors said that its finance director, Taoufiq Boussaid, is leaving the company as part of a leadership shakeup led by CEO Silvio Napoli.
• The company said it has replaced its CFO for just a few C-suite roles, with the CEO role being the only one that will be filled by someone new.
• In Q2, Lucid reported delivering 3,953 vehicles, compared with 4,774; for the material, it is planned to disclose plans regarding Cosmos and robotaxi with Uber and Nuro.

For more details, see TechCrunch and The Next Web.

Lucid Motors said that its finance director, Taoufiq Boussaid, will leave the company. The company did not specify the reason for his departure, saying only that it is related to the appointment of a new CEO, Silvio Napoli.

In addition, Lucid also announced changes to its top executives: chief financial officer, chief technology officer, chief customer officer, chief digital officer, and chief transformation officer. According to the company, Napoli will be responsible for the remaining roles, as he will oversee them himself.

The changes in the executive team will affect the company’s business. In particular, Napoli’s official compensation will be $1,500 per month, while the company’s previous CEO, Marc Winterhoff, received a monthly salary of $14 million. The company also noted that Peter Rawlinson will remain in his role as head of the company until 2025.

Part of the changes at Lucid is related to personnel changes in management. The company said that Napoli’s annual salary will be 1,500 robot hours (18% of the total), which will be used to produce a new factory in Arizona.

Lucid also published a statement regarding the delivery of other vehicles. The company said it delivered 3,953 vehicles in Q2, and also delivered 4,774 vehicles; the company did not provide a figure for this, saying only that the Gravity SUV is not yet available for sale, which is why the deliveries were delayed.

In the middle of the year, which the company expects to build, Lucid will have a smaller number of vehicles in Cosmos, and also a partnership with Nuro and Uber for the development of a luxury robotaxi service. According to the company, testing of the robot will take place in San Francisco, and the final rollout will be in Houston in 2027, which is when the company expects the robot to be ready.

Tags: Automotive/Economy