Arrival Announces Mr. F. Peter Cuneo Appointed as Interim CEO; Mr. Denis Sverdlov Appointed as Chairman of the Board; Departure of Mr. Avinash Rugoobur as President and Chief of Strategy; Mr. Rexford Tibbens Appointed as Chairman of the Strategic Planning
25 November 2022 - 12:30AM
GlobeNewswire Inc.
Arrival (NASDAQ: ARVL) (the “Company”), announces that Mr. F. Peter
Cuneo has been appointed as Interim Chief Executive Officer.
Mr. Cuneo stated, “I intend to bring the full depth of my
experience to this operational role, ensuring that the Company
executes on its next set of strategic goals. I look forward to
working closely with Denis, the rest of the Board and our employees
for the benefit of all Arrival’s stakeholders.”
Mr. Denis Sverdlov is concurrently stepping down from his role
as Chief Executive Officer and has been appointed as Chairman of
the Board in the place of Mr. Cuneo who has resigned from the Board
and the Audit Committee in order to focus on his duties as Interim
CEO. Mr. Cuneo will continue to attend Board meetings as an
observer.
Mr. Sverdlov stated, “I am more committed than ever to ensuring
Arrival’s success, and I will continue to act in the best interests
of the Company, shareholders, customers, partners and
employees.”
Mr. Avinash Rugoobur resigned as President and Chief of Strategy
on 22 November, 2022 for personal reasons, but will remain a Board
member. Mr. Rugoobur stated, “It’s been an incredible four years at
Arrival, which has included an IPO, developing a world class team,
technology and key partnerships. I am delighted to continue being
part of Arrival as a Board member.”
Mr. Rexford Tibbens will assume the role of Chairman of the
Company’s Strategic Planning and Operations Committee, which will
work closely with management and focus on achieving key milestones
across all divisions of the Company, including fundraising.
About Arrival
Arrival’s mission is to master a radically more efficient New
Method to design, produce, sell and service best-ever electric
vehicles, to support a world where cities are free from fossil fuel
vehicles. Arrival’s in-house technologies enable a unique approach
to producing vehicles using rapidly-scalable, local Microfactories.
Arrival (NASDAQ: ARVL) is a joint stock company governed by
Luxembourg law.
Forward-looking statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws, including
statements regarding the products offered by Arrival and the
markets in which it operates. Such statements are made pursuant to
the safe harbour provisions of the Private Securities Litigation
Reform Act of 1995 and are based on management’s belief or
interpretation of information currently available. Forward-looking
statements are predictions, projections and other statements about
future events that are based on current expectations and
assumptions and, as a result, are subject to risks and
uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release.
Media Contacts For Arrival
Media pr@arrival.com
Investors ir@arrival.com
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