Lucid Motors replaces its CFO and overhauls its entire leadership team as new CEO reshapes the company

TL;DR

Lucid 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.

The restructuring has been swift. Napoli officially took over as CEO on June 1, replacing interim chief Marc Winterhoff after a 14-month search that followed Peter Rawlinson’s abrupt resignation in February 2025. In the month since, he has cut nearly a fifth of the staff, eliminated the COO role entirely, and now replaced most of the company’s senior leadership.

Lucid also reported its second quarter production and delivery figures on Thursday. The company delivered 3,953 vehicles, up from 3,309 in the same period a year earlier, and produced 4,774 vehicles. The numbers suggest the Gravity SUV, which Lucid had positioned as its growth vehicle, has not generated the demand surge the company was counting on.

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The contrast with Rivian, which reported its own quarterly numbers on the same day, is notable. Rivian raised its full year delivery forecast to between 65,000 and 70,000 vehicles after delivering 12,194 in the second quarter, well above analyst expectations. Where Rivian is expanding production and raising guidance, Lucid is cutting staff and dismantling factory shifts.

Lucid is betting on two things to reverse its trajectory. The first is the Cosmos, a smaller SUV expected to start at around 50,000 dollars that would be the company’s first mass market vehicle, with production planned for later this year. The second is a partnership with Uber and Nuro to create a luxury robotaxi service using the Gravity SUV, with employee testing already underway in San Francisco and a potential expansion to Houston in 2027.

“We are simplifying the organization, strengthening leadership, enforcing accountability and aligning our structure with the priorities that matter most: customers, quality, and innovation,” Napoli said in a statement. The Saudi-backed EV maker, which went public through a 2021 reverse merger, has struggled to find large markets for its luxury electric sedan and SUV amid a hostile US environment for EV sales. Whether a leaner Lucid can execute a mass market launch while simultaneously rebuilding its leadership team is the question Napoli has given himself very little time to answer.