Lucid replaces entire C-suite under new CEO Napoli
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- Lucid named five new C-suite leaders under CEO Silvio Napoli — CFO Alexander De Bock (ex-TI Automotive), CTO Raja Ramana Macha (ex-Eaton), Chief Customer Officer Billy Hayes (ex-Nissan/Stellantis), Chief Transformation Officer Hugo Martinho (ex-Schindler), and Kay Stepper as President of Lucid Technologies and Chief Digital Officer (ex-Bosch/Qualcomm).
- The overhaul lands just over a week after Lucid cut roughly 18% of its workforce — about 1,500 jobs — for ~$158 million in annualized savings, eliminated the second shift at its Casa Grande, Arizona factory, and withdrew its 2026 production guidance of 25,000 to 27,000 vehicles.
- Kay Stepper will lead a newly distinct Lucid Technologies business unit focused on robotaxis, AI, autonomy, and ADAS — a structure the source describes as positioning Lucid's software and autonomy work as a separate value driver, building on the expanded Uber robotaxi partnership and the recent hands-free Gravity SUV rollout.
- Lucid's Q2 deliveries rose 27.8% quarter-over-quarter to 3,953 vehicles (from 3,093 in Q1) and ~19% year-over-year, but production fell 13% quarter-over-quarter to 4,774 as the company aligned output with weak demand; first-half 2026 deliveries stand at just over 7,000.
- Silvio Napoli, the former Schindler Group chairman and CEO, became Lucid's second permanent CEO on June 1 after founder Peter Rawlinson's abrupt February 2025 departure, with interim CEO Marc Winterhoff exiting June 22 when Lucid eliminated the COO role entirely.
- Lucid says full Q2 financials — including the closely watched cash burn — are due August 4.
Why it matters: Within roughly two weeks, Lucid cut 18% of staff for ~$158M in annualized savings, withdrew 2026 production guidance, and swapped out nearly the entire C-suite — but parked its most credible growth narrative in a separate Lucid Technologies unit for robotaxis and AI partnerships, leaving the August 4 cash burn disclosure as the next material test of whether the new operators inherited a fixable business or just a longer runway.
