(Bloomberg) -- Faraday Future Intelligent Electric Inc. is replacing CEO Carsten Breitfeld amid an overhaul of the company’s board of directors.
The Los Angeles-based EV startup said in a filing Monday that its board voted Nov. 26 to remove Breitfeld, a former BMW executive, from his post and replace him with Xuefeng Chen, who currently leads Faraday’s China division. The board has asked Breitfeld to resign following a “comprehensive evaluation of the performance of the company since it went public in July 2021,” the company said. Breitfeld didn’t immediately respond to a request for comment.
Breitfeld’s ouster comes after a months-long battle between the company and its largest shareholders, including a group associated with founder Jia Yueting.
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