Lucid Motors is replacing chief financial officer Taoufiq Boussaid and appointing several new executives as CEO Silvio Napoli continues to restructure the electric vehicle company. The changes will cut the number of executives reporting directly to Napoli by half and bring senior leaders closer to Lucid’s offices and manufacturing sites.
Boussaid will leave after handing responsibilities to incoming CFO Alexander De Bock and supporting the company through its second-quarter results. De Bock previously served as CFO of TI Automotive, where he worked on restructuring, cost controls and financial performance.
The changes follow Lucid’s June decision to reduce its U.S. workforce by about 18%, including employees, contractors and factory workers. The company also eliminated the second production shift at its AMP-1 factory in Arizona and expects the cuts to save about $158 million annually.
Lucid Appoints Five Senior Executives
Lucid named Raja Ramana Macha as chief technology officer, giving him responsibility for technology strategy and engineering. Billy Hayes has joined as chief customer officer, overseeing sales, service, marketing and regional financial performance in the U.S., Europe and the Middle East.
Hugo Martinho will become chief transformation officer on August 1, while Kay Stepper has been appointed president of Lucid Technologies and chief digital officer. Stepper will oversee robotaxis, artificial intelligence, autonomous driving, driver-assistance systems and enterprise technology.
Lucid said in its official announcement that the new team will work from its main offices and manufacturing hubs to improve collaboration and decision-making. Several existing executives will leave because the new structure would require them to relocate away from their families and communities.
Second-Quarter Deliveries Rise From Last Year
Lucid produced 4,774 vehicles and delivered 3,953 during the second quarter of 2026. Deliveries increased by about 19% from 3,309 vehicles in the same quarter last year, although production fell from the 5,500 vehicles built during the first quarter.
The figures suggest that demand for the Gravity SUV remains limited as Lucid works to align production with expected sales. The company is also preparing a smaller SUV and developing a robotaxi service with Uber and autonomous driving company Nuro.
Napoli became Lucid’s CEO on June 1 after the company spent more than a year replacing former chief executive Peter Rawlinson. He said the revised structure would strengthen accountability and focus the company on customers, quality and technology.
Lucid will report its complete second-quarter financial results on August 4.
Featured image credits: Wikimedia Commons
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