Lucid Motors has appointed a new CFO and is revamping its entire leadership team as the new CEO transforms the company.

      Lucid Motors announced on Thursday that its chief financial officer, Taoufiq Boussaid, will depart from the company, marking the latest leadership change under new CEO Silvio Napoli. Alexander De Bock, an experienced automotive finance executive and former CFO of TI Automotive, will take over Boussaid's role following a transition period that will last until Lucid's second quarter earnings report. This departure is part of a broader restructuring within the C-suite, which includes new appointments for the chief technology officer, chief customer officer, chief digital officer, and chief transformation officer.

      Napoli is also reducing the number of direct reports to him by half, a strategy aimed at promoting closer collaboration among the new leadership team at Lucid's headquarters and manufacturing sites. Three senior executives—including the senior vice presidents of revenue and marketing and the vice president of program management—will leave the company instead of relocating. This executive reshuffle follows Napoli's recent announcement regarding the elimination of approximately 1,500 positions, representing 18 percent of the workforce, as well as the discontinuation of the second production shift at the Arizona factory.

      The restructuring has been rapid. Napoli officially stepped in as CEO on June 1, taking over from interim chief Marc Winterhoff after a 14-month search that ensued following Peter Rawlinson’s unexpected resignation in February 2025. Within a month, he has reduced nearly one-fifth of the workforce, dissolved the COO position, and has now replaced most of the senior leadership team.

      On Thursday, Lucid also released its second quarter production and delivery statistics. The company delivered 3,953 vehicles, an increase from 3,309 in the same quarter last year, and produced 4,774 vehicles. These figures indicate that the Gravity SUV, which Lucid aimed to position as its growth model, has not produced the anticipated demand.

      The situation contrasts with Rivian, which reported its own quarterly results on the same day. Rivian raised its full-year delivery forecast to between 65,000 and 70,000 vehicles after delivering 12,194 in the second quarter, exceeding analyst expectations. While Rivian is expanding production and improving its guidance, Lucid is reducing staff and dismantling factory shifts.

      Lucid is relying on two key initiatives to turn its fortunes around. The first is the Cosmos, a smaller SUV expected to begin around $50,000, which will be the company’s first mass-market vehicle, slated for production later this year. The second initiative is a collaboration with Uber and Nuro to develop a luxury robotaxi service utilizing the Gravity SUV, with employee testing already underway in San Francisco and potential expansion to Houston by 2027.

      “We are simplifying the organization, strengthening leadership, enforcing accountability, and aligning our structure with our core priorities: customers, quality, and innovation,” Napoli stated. The Saudi-backed electric vehicle maker, which went public via a reverse merger in 2021, has faced challenges in establishing significant markets for its luxury electric sedan and SUV in a tough U.S. sales environment for EVs. Whether a streamlined Lucid can successfully launch a mass-market vehicle while simultaneously transforming its leadership team remains a question that Napoli has little time to answer.