NEWARK,
Calif., Jan. 28, 2025 /PRNewswire/ -- Lucid Group,
Inc. (NASDAQ: LCID), maker of the world's most advanced electric
vehicles, today announced the appointment of Taoufiq Boussaid as Chief Financial Officer,
planned to become effective February 25,
2025. Interim CFO Gagan
Dhingra will be promoted to Senior Vice President, Finance
and Accounting and also continue as Chief Accounting Officer,
reporting to Boussaid once he assumes the CFO role.
"Taoufiq is joining Lucid at a pivotal time as we ramp up
production of the Lucid Gravity SUV and accelerate our progress
toward achieving our strategic goals," said Peter Rawlinson, CEO and CTO of Lucid. "With
decades of experience in strategic finance and operational
transformation, Taoufiq will bring valuable expertise to our
leadership team. His proven ability to align financial strategy
with business objectives will be critical in scaling our operations
efficiently and effectively as we prepare for the launch of our
midsize vehicles. I would also like to extend my gratitude to
Gagan for his leadership as interim CFO and his continued
contributions to Lucid's success."
Boussaid brings extensive public company finance leadership
experience to the Lucid team, where he will focus on aligning key
strategic, operational, and financial processes with Lucid's profit
and growth objectives while driving initiatives to enhance
shareholder value. Boussaid, 53, previously served as Group Chief
Financial Officer of N.V. Bekaert S.A., a Belgium-listed industrial steel and coatings
technology company, from July 2019
through October 2024, where he
successfully led finance transformation efforts, improved
operational efficiency, and contributed to significant debt
reduction and value creation for shareholders. In 2007, he joined
Bombardier Transportation, where he progressively advanced through
the finance organization across various geographies, ultimately
serving as Vice President Finance for EMEA and Asia Pacific. Alongside his finance roles, he
also held operational responsibilities, overseeing the French and
North African businesses of Bombardier Transportation. Earlier in
his career, he served in key finance positions at United
Technologies Corporation, including as Chief Financial Officer for
their Carrier Heating Systems business in Europe. Boussaid began his career in
international finance as an audit manager with Ernst & Young
Global Limited in France and The
Coca-Cola Company in the United
States.
About Lucid Group
Lucid (NASDAQ: LCID) is a Silicon Valley-based technology
company focused on creating the most advanced EVs in the world. The
award-winning Lucid Air and new Lucid Gravity deliver best-in-class
performance, sophisticated design, expansive interior space and
unrivaled energy efficiency. Lucid assembles both vehicles in its
state-of-the-art, vertically integrated factory in Arizona. Through its industry-leading
technology and innovations, Lucid is advancing the state-of-the-art
of EV technology for the benefit of all.
Investor Relations Contact
investor@lucidmotors.com
Media Contact
media@lucidmotors.com
Forward-Looking Statements
This communication includes "forward-looking statements" within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"estimate," "plan," "project," "forecast," "intend," "will,"
"shall," "expect," "anticipate," "believe," "seek," "target,"
"continue," "could," "may," "might," "possible," "potential,"
"predict" or other similar expressions that predict or indicate
future events or trends or that are not statements of historical
matters. These forward-looking statements include, but are not
limited to, statements regarding the expected timing of Boussaid's
appointment and Lucid's expectations related to continued ramp-up
in production of the Lucid Gravity and acceleration of progress
toward executing Lucid's business plan. Actual events and
circumstances may differ from these forward-looking statements.
These forward-looking statements are subject to a number of risks
and uncertainties, including those factors discussed under the
heading "Risk Factors" in Part II, Item 1A of Lucid's Quarterly
Report on Form 10-Q for the quarter ended September 30, 2024, as well as other documents
Lucid has filed or will file with the Securities and Exchange
Commission. If any of these risks materialize or Lucid's
assumptions prove incorrect, actual results could differ materially
from the results implied by these forward-looking statements. There
may be additional risks that Lucid currently does not know or that
Lucid currently believes are immaterial that could also cause
actual results to differ from those contained in the
forward-looking statements. In addition, forward-looking statements
reflect Lucid's expectations, plans or forecasts of future events
and views as of the date of this communication. Lucid anticipates
that subsequent events and developments will cause Lucid's
assessments to change. However, while Lucid may elect to update
these forward-looking statements at some point in the future, Lucid
specifically disclaims any obligation to do so. Accordingly, undue
reliance should not be placed upon the forward-looking
statements.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/lucid-announces-new-chief-financial-officer-302362561.html
SOURCE Lucid Group
