Austin Russell, the billionaire CEO of Luminar, has resigned from his position amid a business conduct and ethics inquiry by the company's board. Paul Ricci, formerly of Nuance, has been appointed as the new CEO. While Russell remains on the board to assist with the transition, it is unclear whether he resigned voluntarily or was forced out. The companyâs earnings report notably omits any mention of this leadership change, even featuring optimistic comments from Russell about Luminar's future executive direction and plans for growth.
In a world of macro uncertainty and adversity, we're firing on all cylinders to ramp up production, ramp down costs, and capitalize on the future, as evidenced by our announcements today.
We are excited to announce Paul as our next CEO. His track record speaks for itself. He is a visionary leader with a rare combination of technical insight and operational excellence.
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