Lucid Group appoints Silvio Napoli as Chief Executive

Lucid Group has appointed Silvio Napoli, former Chairman and Chief Executive of Schindler Group, as its next Chief Executive, with Napoli also joining the company’s board of directors. Interim Chief Executive Marc Winterhoff will transition to the role of Chief Operating Officer upon Napoli assuming the position.

Napoli brings experience from Schindler Group, where he led large-scale global manufacturing operations and oversaw the vertical transportation industry’s shift toward technology-enabled, service-oriented business models. His appointment is intended to support Lucid’s path toward positive free cash flow and profitability as it scales production of the Lucid Air and Lucid Gravity and develops its forthcoming Midsize platform vehicles. The company has also identified autonomy, robotaxi services and software-enabled revenue as future growth areas.

Turqi Alnowaiser, Chairman of the Lucid Board of Directors, said: “Silvio is a proven global leader with deep experience leading complex, technology-driven organisations through periods of rapid growth and operational scaling. His expertise in capital allocation, operational efficiency and translating advanced technology into consistent high-quality performance over time will be critical as Lucid continues to scale and execute its strategy.”

In a statement, Napoli said: “My focus will be on consistent execution, financial discipline and helping translate Lucid’s breakthrough innovations into long-term value.”

Source: Lucid Group