Lucid Group seeks new CEO after founder's departure

Lucid Group Inc. is searching for a new CEO after the recent announcement that its founder, Peter Rawlinson, will step down. This leadership change comes as the company’s stock has dropped about 17% since the news was revealed in late February. Peter Rawlinson, who has been at the helm for over ten years, will transition to an advisory role for the board chair. This shift allows for new leadership in the rapidly evolving electric vehicle market. Experts suggest that bringing in a new CEO could benefit Lucid. Fresh leadership may bring new ideas and strategies to help the company grow and compete with other electric vehicle manufacturers. Investors and analysts will be watching closely to see how this change impacts the company’s future performance.