Lucid Just Had A Big Executive Shakeup. Here’s What You Need To Know

• Lucid’s CFO is out. 
• Since starting as the startup’s CEO in June, Silvio Napoli has shaken up the company’s leadership team. 
• The electric carmaker’s COO and top engineer both left last month. 

Lucid Motors’ new CEO, Silvio Napoli, took the top job at the start of last month and has wasted no time leaving his mark on the company. On Thursday the EV maker announced that its chief financial officer, Taoufiq Boussaid, will leave the company amid broader restructuring efforts. 

The departure is part of Napoli’s overhaul of Lucid’s C-suite, also announced Thursday. In addition to a new CFO, Lucid has hired a new chief technology officer, chief customer officer, and chief transformation officer. Kay Stepper, who was running the company’s advanced driver-assistance and autonomy program, has been named president of Lucid Technologies and Chief Digital Officer. 

Lucid said the changes will “simplify the company’s structure, sharpen accountability and improve execution.” They also halve the number of employees reporting directly to the CEO. 

Last month, Lucid laid off 18% of its staff and announced the departure of its COO, Marc Winterhoff, who had served as interim CEO until Napoli’s appointment. Emad Dlala, Lucid’s top engineer and an 11-year veteran of the company, also left last month. That all comes after Lucid cut 12% of its workforce in February. 

The company is working to build the scale it needs to become profitable—it reported a net loss of $2.7 billion last year, about the same as the year before—and progress has been slow-going. On Thursday, Lucid said it produced 4,774 vehicles and delivered 3,953. That’s a slight increase over Q2 of 2025, when the company sold 3,309 vehicles. But the introduction of the Gravity SUV hasn’t boosted sales in a significant way yet. The three-row SUV’s launch has been hampered by manufacturing issues and software bugs. 

Rivian, on the other hand, looks to be growing sales nicely despite the difficult backdrop for EVs. On Thursday, the company reported strong Q2 deliveries of 12,194 units and bumped its delivery guidance for the year to 65,000 to 70,000 units, up from 62,000 to 67,000 units. It isn’t exactly an apples-to-apples comparison, since Rivian sells four models and Lucid only has two. Rivian expects its growth this year to come from sales of the R2.

Lucid is looking to its own roughly $50,000 crossover, the Cosmos, to take sales to the next level too. It plans to start making the Cosmos at its factory in Saudi Arabia by the end of this year, followed by production in the Arizona in 2027. 

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