Lucid’s new CEO clears out C-suite after layoffs and soft demand

A fast reset after a slow ramp

Lucid’s newest management overhaul landed on July 2, just weeks after Silvio Napoli formally took charge and days after the EV maker announced another restructuring. The company said finance chief Taoufiq Boussaid will leave after helping through second-quarter earnings, while Alexander De Bock joins as CFO and Raja Ramana Macha becomes CTOtechcrunch +1.

The reshuffle also brings in new customer, digital and transformation chiefs, and cuts the number of direct reports to Napoli in halftechcrunch +1. Phoenix Business Journal reported that the changes come amid plans for 705 job cuts at Lucid’s Casa Grande, Arizona, plantbizjournals.

Demand is forcing a smaller operating plan

The leadership changes follow an 18% workforce reduction, its second deep cut of 2026 after a 12% reduction in Februaryinsideevs. Lucid also eliminated a second production shift at its Arizona factory, withdrew 2026 production guidance and said the broader restructuring should generate about $158 million in annualized savingstechcrunch +1.

The pressure is visible in the delivery data. Lucid produced 4,774 vehicles and delivered 3,953 in the second quarter, below Visible Alpha estimates of 5,280 produced and 4,618 delivered, Reuters reportedyahoo. InsideEVs said the Gravity SUV has yet to materially lift sales, citing launch issues including manufacturing problems and software bugsinsideevs.

A turnaround built around cheaper vehicles and software

Napoli is trying to move Lucid from engineering-led ambition toward tighter execution. Electrek described the July announcement as a near-total C-suite reset, including a new transformation role led by Hugo Martinho and a distinct Lucid Technologies unit under Kay Stepper for robotaxis, AI, autonomy, driver assistance and enterprise softwareelectrek.

That structure fits two bets now carrying more weight. Lucid is preparing a lower-cost Cosmos crossover, expected around $50,000, after years of relying on the premium Air sedan and Gravity SUVtechcrunch +1. It is also pursuing an Uber and Nuro robotaxi partnership that TechCrunch said is intended to launch in San Francisco later this year, with potential Houston expansion in 2027techcrunch.

The reset buys Napoli a chance to prove Lucid can match production to real demand without losing the technology story that made investors and Saudi backers patient. The next test is less about another org chart than whether the new team can turn fewer workers, fewer executive layers and a cheaper SUV into sustained volume.