{"id":3490635,"date":"2026-07-02T14:53:39","date_gmt":"2026-07-02T14:53:39","guid":{"rendered":"https:\/\/techingeek.com\/index.php\/2026\/07\/02\/lucid-motors-cfo-has-been-let-go-as-the-newly-appointed-ceo-carries-on-with-the-leadership-transformation\/"},"modified":"2026-07-02T14:53:39","modified_gmt":"2026-07-02T14:53:39","slug":"lucid-motors-cfo-has-been-let-go-as-the-newly-appointed-ceo-carries-on-with-the-leadership-transformation","status":"publish","type":"post","link":"https:\/\/techingeek.com\/index.php\/2026\/07\/02\/lucid-motors-cfo-has-been-let-go-as-the-newly-appointed-ceo-carries-on-with-the-leadership-transformation\/","title":{"rendered":"Lucid Motors\u2019 CFO has been let go as the newly appointed CEO carries on with the leadership transformation."},"content":{"rendered":"
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The fresh CEO of Lucid Motors is actively reorganizing the firm following the announcement of numerous job eliminations last month: The electric vehicle manufacturer indicated on Thursday that its chief financial officer, Taoufiq Boussaid, will be departing from the organization.<\/p>\n

Boussaid\u2019s imminent exit coincides with a series of new executive appointments aimed at strengthening the company\u2019s leadership as Lucid\u2019s new CEO Silvio Napoli endeavors to \u201cstreamline the organization.\u201d<\/p>\n

On Thursday, Lucid announced the appointment of a new chief financial officer, chief technology officer, chief customer officer, chief digital officer, and chief transformation officer. Napoli is also halving the number of individuals who directly report to him.<\/p>\n

The company stated that this new executive team will \u201cunite at the company\u2019s headquarters and manufacturing sites to enhance collaboration,\u201d and consequently, its senior vice presidents of revenue, marketing, along with its vice president of program management \u201cwill be departing Lucid to stay closer to their families and communities.\u201d<\/p>\n

These modifications come just weeks after Napoli formally assumed the primary position. Lucid Motors spent over a year searching for a successor for Peter Rawlinson, who abruptly resigned as CEO and CTO in February 2025. The Saudi-owned enterprise has faced challenges in securing the large markets for its electric sedan and SUV that it promised would materialize when it went public through a reverse merger with a special purpose acquisition company in 2021.<\/p>\n

When it announced layoffs last week, the company indicated it needed to align its \u201cproduction strategies with the expected demand.\u201d The organization is also discontinuing a second shift at its facility in Arizona. This round of layoffs, its second significant workforce reduction this year, is anticipated to save Lucid Motors approximately $158 million annually.<\/p>\n

Lucid reported on Thursday that it delivered 3,953 vehicles in the second quarter, only marginally higher than the previous year \u2014 indicating that its Gravity SUV has not gained traction as anticipated. In contrast, other electric vehicle manufacturers are discovering ways to adapt to the challenges currently facing the U.S. electric vehicle market. Rivian, for example, raised its 2026 sales forecast earlier on Thursday.<\/p>\n

Lucid Motors is set to unveil a smaller SUV named Cosmos, which, at an anticipated price of roughly $50,000, could be its first mass-market success. Simultaneously, Lucid is collaborating with autonomous vehicle technology firm Nuro and ride-hailing behemoth Uber to develop a luxury robotaxi service expected to debut in San Francisco later this year, potentially extending to Houston in 2027.<\/p>\n

Lucid Motors has stated that the restructuring aims to \u201csimplify the organization, enhance execution, and position Lucid to become more competitive over time,\u201d although it has not clarified whether any of its initiatives will be impacted.<\/p>\n

\u201cWe are streamlining the organization, bolstering leadership, reinforcing accountability, and aligning our structure with the priorities that matter most: customers, quality, and innovation,\u201d Napoli mentioned in a statement on Thursday. \u201cThe caliber of leaders joining the Lucid executive team is a reflection of the intrinsic value of our business and the exciting opportunities before us. We are assembling a new team that will revolutionize the company.\u201d<\/p>\n<\/div>\n

When you purchase through links in our articles, we may earn a small commission. This doesn\u2019t affect our editorial independence.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

<\/div>\n
\n

The fresh CEO of Lucid Motors is actively reorganizing the firm following the announcement of numerous job eliminations last month: The electric vehicle manufacturer indicated on Thursday that its chief financial officer, Taoufiq Boussaid, will be departing from the organization.<\/p>\n

Boussaid\u2019s imminent exit coincides with a series of new executive appointments aimed at strengthening the company\u2019s leadership as Lucid\u2019s new CEO Silvio Napoli endeavors to \u201cstreamline the organization.\u201d<\/p>\n

On Thursday, Lucid announced the appointment of a new chief financial officer, chief technology officer, chief customer officer, chief digital officer, and chief transformation officer. Napoli is also halving the number of individuals who directly report to him.<\/p>\n

The company stated that this new executive team will \u201cunite at the company\u2019s headquarters and manufacturing sites to enhance collaboration,\u201d and consequently, its senior vice presidents of revenue, marketing, along with its vice president of program management \u201cwill be departing Lucid to stay closer to their families and communities.\u201d<\/p>\n

These modifications come just weeks after Napoli formally assumed the primary position. Lucid Motors spent over a year searching for a successor for Peter Rawlinson, who abruptly resigned as CEO and CTO in February 2025. The Saudi-owned enterprise has faced challenges in securing the large markets for its electric sedan and SUV that it promised would materialize when it went public through a reverse merger with a special purpose acquisition company in 2021.<\/p>\n

When it announced layoffs last week, the company indicated it needed to align its \u201cproduction strategies with the expected demand.\u201d The organization is also discontinuing a second shift at its facility in Arizona. This round of layoffs, its second significant workforce reduction this year, is anticipated to save Lucid Motors approximately $158 million annually.<\/p>\n

Lucid reported on Thursday that it delivered 3,953 vehicles in the second quarter, only marginally higher than the previous year \u2014 indicating that its Gravity SUV has not gained traction as anticipated. In contrast, other electric vehicle manufacturers are discovering ways to adapt to the challenges currently facing the U.S. electric vehicle market. Rivian, for example, raised its 2026 sales forecast earlier on Thursday.<\/p>\n

Lucid Motors is set to unveil a smaller SUV named Cosmos, which, at an anticipated price of roughly $50,000, could be its first mass-market success. Simultaneously, Lucid is collaborating with autonomous vehicle technology firm Nuro and ride-hailing behemoth Uber to develop a luxury robotaxi service expected to debut in San Francisco later this year, potentially extending to Houston in 2027.<\/p>\n

Lucid Motors has stated that the restructuring aims to \u201csimplify the organization, enhance execution, and position Lucid to become more competitive over time,\u201d although it has not clarified whether any of its initiatives will be impacted.<\/p>\n

\u201cWe are streamlining the organization, bolstering leadership, reinforcing accountability, and aligning our structure with the priorities that matter most: customers, quality, and innovation,\u201d Napoli mentioned in a statement on Thursday. \u201cThe caliber of leaders joining the Lucid executive team is a reflection of the intrinsic value of our business and the exciting opportunities before us. We are assembling a new team that will revolutionize the company.\u201d<\/p>\n<\/div>\n

When you purchase through links in our articles, we may earn a small commission. This doesn\u2019t affect our editorial independence.<\/em><\/p>\n","protected":false},"author":2,"featured_media":3490636,"comment_status":"open","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3490635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/techingeek.com\/index.php\/wp-json\/wp\/v2\/posts\/3490635"}],"collection":[{"href":"https:\/\/techingeek.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techingeek.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techingeek.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/techingeek.com\/index.php\/wp-json\/wp\/v2\/comments?post=3490635"}],"version-history":[{"count":0,"href":"https:\/\/techingeek.com\/index.php\/wp-json\/wp\/v2\/posts\/3490635\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/techingeek.com\/index.php\/wp-json\/wp\/v2\/media\/3490636"}],"wp:attachment":[{"href":"https:\/\/techingeek.com\/index.php\/wp-json\/wp\/v2\/media?parent=3490635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techingeek.com\/index.php\/wp-json\/wp\/v2\/categories?post=3490635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techingeek.com\/index.php\/wp-json\/wp\/v2\/tags?post=3490635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}