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Fortune
Fortune
Christiaan Hetzner

Resignation of Lucid Motors’ veteran CEO spooks investor fear of new product delays

Peter Rawlinson Lucid Lucid Motors Bank of America Tesla Inc.
Peter Rawlinson, chief executive officer of Lucid Motors Inc., following a Bloomberg Television interview in London. (Credit: Jose Sarmento Matos—Bloomberg/Getty Images)
  • Peter Rawlinson, the former Tesla Model S chief engineer, left his post as CEO and CTO following the launch of Lucid Motors’ Gravity SUV. Bank of America downgraded the stock and slashed its price target by two-thirds as a result.

Investors dumped shares in Lucid Motors overboard after Peter Rawlinson stepped down as CEO following nearly six years at the helm, the second major C-suite reshuffling in four weeks.

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