Lucid Motors has appointed a new CFO and revamped its entire leadership team as the new CEO transforms the organization.

      Lucid Motors announced on Thursday that its chief financial officer, Taoufiq Boussaid, will be departing from the company, marking another shift in leadership under new CEO Silvio Napoli. Alexander De Bock, an experienced automotive finance leader and former CFO of TI Automotive, is set to take over Boussaid's position after a transitional period that will last until the release of Lucid's second quarter earnings report. This exit is part of a wider C-suite revamp, which includes new appointments for roles such as chief technology officer, chief customer officer, chief digital officer, and chief transformation officer.

      Napoli is also reducing the number of direct reports he has by half, a strategy aimed at promoting closer collaboration by uniting the new leadership team at the company's headquarters and manufacturing sites. Three senior executives—the senior vice presidents of revenue and marketing and the vice president of program management—will leave the company rather than relocate. This executive change follows Napoli's recent announcement of the elimination of about 1,500 jobs, or 18% of the workforce, along with the cancellation of the second production shift at its Arizona plant.

      The restructuring efforts have been rapid. Napoli officially stepped in as CEO on June 1, succeeding interim chief Marc Winterhoff after a 14-month search that came after Peter Rawlinson's sudden resignation in February 2025. Within a month, he has reduced nearly 20% of the workforce, entirely removed the COO position, and replaced most of the senior leadership team.

      Additionally, Lucid revealed its production and delivery figures for the second quarter on Thursday. The company delivered 3,953 vehicles, a rise from 3,309 in the same timeframe last year, and produced 4,774 vehicles. These figures indicate that the Gravity SUV, which was expected to drive growth, has not produced the anticipated demand increase.

      In comparison, Rivian, which released its quarter numbers on the same day, 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 boosting production and increasing forecasts, Lucid is reducing its workforce and dismantling factory shifts.

      Lucid is counting on two main strategies to change its current path. The first is the Cosmos, a smaller SUV anticipated to start at around $50,000 and aimed to be the company's first mass-market vehicle, with production slated for later this year. The second involves a partnership with Uber and Nuro to develop a luxury robotaxi service utilizing the Gravity SUV, with employee testing already taking place in San Francisco and potential expansion to Houston by 2027.

      “We are simplifying the organization, strengthening leadership, enforcing accountability, and aligning our structure with the key priorities: customers, quality, and innovation,” Napoli stated. The Saudi-backed EV manufacturer, which went public via a reverse merger in 2021, has faced challenges in establishing a significant market for its luxury electric sedan and SUV against a difficult U.S. selling environment for EVs. The pressing question is whether a leaner Lucid can effectively launch a mass-market vehicle while simultaneously revamping its leadership team, a challenge that Napoli has given himself limited time to address.