EV Maker Lucid to Seek New CEO After Rawlinson Steps Aside
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Lucid Group will begin a search for a new CEO after it said its current leader, Peter Rawlinson, has stepped aside to serve in a strategic advisory role.
Marc Winterhoff, chief operating officer of the EV maker, was named interim CEO, the company said in a statement as it reported fourth-quarter earnings. The board has hired an executive search firm to help find his successor.
The change comes as the company works to boost production of its new Gravity battery-electric SUV that began production last year. Rawlinson has led the company as CEO since 2019 after helping take the EV maker public in 2021.
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Lucid Chairman Turqi Alnowaiser said in the statement that Rawlinson was “instrumental in the company’s transition from concept to reality” and credited him for assembling “a deep bench of technology leaders” to position the company for its next phase.
Fourth-quarter revenue of $234.5 million topped the $212 million average of analyst estimates compiled by Bloomberg.
Lucid’s shares rose as much as 14% in after-hours trading in New York on Feb. 25.
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