Lucid Motors has continued its sweeping restructuring under newly appointed Chief Executive Silvio Napoli, announcing the departure of Chief Financial Officer Taoufiq Boussaid as part of a wider shake-up of the company’s leadership.
The latest changes follow the announcement of hundreds of job cuts last month, with Napoli pushing ahead with plans to streamline the electric vehicle manufacturer and simplify its management structure.
Alongside Boussaid’s exit, Lucid has appointed a new Chief Financial Officer, Chief Technology Officer, Chief Customer Officer, Chief Digital Officer and Chief Transformation Officer. The company also revealed that Napoli has reduced by half the number of executives reporting directly to him.
According to Lucid, the revamped leadership team will work more closely from the company’s headquarters and manufacturing facilities to improve collaboration. As part of the reorganisation, the Senior Vice Presidents for Revenue and Marketing, as well as the Vice President of Programme Management, will leave the company so they can remain closer to their families and communities.
The restructuring comes only weeks after Napoli formally assumed the role of Chief Executive. Lucid had spent more than a year searching for a successor to former CEO and CTO Peter Rawlinson, who stepped down unexpectedly in February 2025. Since going public through a special purpose acquisition company (SPAC) merger in 2021, the Saudi-backed carmaker has struggled to generate the strong demand it had anticipated for its luxury electric saloons and SUVs.
Last week, the company said it was reducing its workforce to better align production with expected demand. Lucid is also eliminating a second production shift at its Arizona manufacturing plant. The latest round of redundancies, its second significant workforce reduction this year, is expected to deliver annual savings of approximately $158 million.
Lucid also reported second-quarter deliveries of 3,953 vehicles on Thursday, only a modest increase from the same period last year, suggesting its Gravity SUV has yet to achieve the sales momentum the company had hoped for. By comparison, rival EV manufacturer Rivian recently raised its sales outlook for 2026 despite ongoing challenges across the US electric vehicle market.
Looking ahead, Lucid is preparing to launch the Cosmos, a smaller SUV expected to start at around $50,000, which it hopes will become its first mass-market success. The company is also partnering with autonomous driving specialist Nuro and ride-hailing firm Uber to introduce a premium robotaxi service in San Francisco later this year, with a possible expansion to Houston in 2027.
Lucid maintains that the restructuring is designed to simplify its operations, strengthen execution and improve its long-term competitiveness, although it has not indicated whether any of its future projects will be affected.
”We are simplifying the organisation, strengthening leadership, enforcing accountability and aligning our structure with the priorities that matter most: customers, quality and innovation,” Napoli said. “The calibre of leaders joining the Lucid leadership team reflects the strength of our business and the opportunities ahead. We are building a new team that will transform the company.”
