Lucid Motors Reorganizes Leadership Team
Silvio Napoli Leads Restructuring Following CFO Departure
Lucid Motors has announced significant changes at the top, including the replacement of its Chief Financial Officer (CFO), Taoufiq Boussaid, who is leaving the company. This move is part of a broader restructuring initiative under the newly appointed CEO, Silvio Napoli.
Napoli has hired four new C-suite executives and cut the number of direct reports in half, resulting in three senior leaders’ departures. The changes aim to foster collaboration and streamline operations at the Saudi-backed electric vehicle (EV) maker.
Key Developments:
- New CFO: Alexander De Bock, a veteran automotive finance executive, will take over from Boussaid after a transition period until Lucid’s second-quarter earnings report.
- Leadership Overhaul: The C-suite reshuffle includes appointments for Chief Technology Officer (CTO), Chief Customer Officer (CCO), Chief Digital Officer (CDO), and Chief Transformation Officer (CTO).
- Staff Reduction: Napoli has cut nearly 18% of the workforce, eliminating roughly 1,500 jobs, and scrapped a second production shift at its Arizona factory.
- Production and Delivery Figures: Lucid delivered 3,953 vehicles in Q2 2026, up from 3,309 in the same period last year, with 4,774 vehicles produced. The Gravity SUV, a key growth vehicle, has not met anticipated demand.
- Contrast with Rivian: While Lucid is downsizing and cutting shifts, Rivian raised its full-year delivery forecast to 65,000–70,000 vehicles after delivering 12,194 in Q2, exceeding analyst expectations.
Lucid’s strategy focuses on the Cosmos, a smaller SUV targeting the mass market, and a partnership with Uber and Nuro for a luxury robotaxi service using the Gravity SUV.