(Bloomberg) -- Lucid Group Inc.’s chief financial officer stepped down from the maker of luxury electric vehicles, an abrupt shakeup atop a company struggling to boost output.
Sherry House resigned from her position effective immediately to pursue unspecified opportunities, the company said in a statement Monday. Lucid’s current vice president of accounting and principal accounting officer, Gagan Dhingra, was named interim CFO while the company searches for a permanent replacement.
Shares of Lucid fell 3.9% as of 4:30 p.m. in after hours trading in New York. The stock tumbled about 33% this year through Monday’s close, after plunging 82% in 2022.
The departure adds to a volatile year for Lucid, which has cut production expectations more than once and reduced headcount. The Newark, California-based company has sought to break out of a pack of EV startups vying to take on Tesla Inc. Lucid has struggled to ramp output of its high-end sedans from its sole plant in Arizona.
Lucid hired House in May 2021 from Waymo, the autonomous driving unit of Google parent Alphabet Inc. The EV maker then listed in July that year following a reverse merger with a blank check company.
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