CALIFORNIA, 14 April 2026 — Lucid Group Inc. (NASDAQ:LCID) has appointed Silvio Napoli as its new chief executive officer, as the electric vehicle maker looks to accelerate production and improve sales in a highly competitive EV market.
Shares of Lucid rose more than 11% in premarket trading following the announcement, reflecting investor optimism that the leadership change could support operational turnaround efforts.
Napoli replaces interim CEO Marc Winterhoff, who will remain with the company as chief operating officer.
Focus on Production and Cost Discipline
The leadership change comes as Lucid works to expand its vehicle lineup and improve operational execution, while addressing supply chain challenges that affected first-quarter deliveries.
The company is pushing into more affordable electric vehicles and advancing autonomous-driving initiatives, including partnerships with ride-hailing and robotics firms.
Lucid has also implemented cost-cutting measures and workforce reductions as part of efforts to stabilise its financial position.
The automaker continues to receive backing from Saudi Arabia’s Public Investment Fund, its largest investor.
Experienced Industrial Executive
Napoli previously served as chairman and chief executive of Schindler Group, where he focused on improving global supply chains and expanding operations in Asia.
His compensation package at Lucid includes a US$1.5 million base salary, along with performance-based bonuses and stock incentives.
The appointment boosted investor sentiment, with shares rising sharply in early trading as markets bet the leadership transition could help revive growth and strengthen execution.
