TL;DRLucid replaced its CFO and hired four other C-suite executives as new CEO Napoli continues restructuring the Saudi-backed EV maker.
Lucid Motors said on Thursday that its chief financial officer, Taoufiq Boussaid, will be leaving the company, the latest in a series of leadership changes under new CEO Silvio Napoli. Alexander De Bock, a veteran automotive finance executive who previously served as CFO of TI Automotive, will replace Boussaid after a transition period that will extend through Lucid’s second quarter earnings report. The departure is part of a broader C-suite overhaul that also includes new hires for the chief technology officer, chief customer officer, chief digital officer, and chief transformation officer roles.
Napoli is also cutting in half the number of people who directly report to him, a move the company said is meant to “foster closer collaboration” by bringing the new leadership team together at its headquarters and manufacturing hubs. Three senior leaders, the senior vice presidents of revenue and marketing and the vice president of programme management, will leave the company rather than relocate. The executive reshuffle comes just weeks after Napoli announced the elimination of roughly 1,500 jobs, or 18 percent of the workforce, and scrapped the second production shift at its Arizona factory.
