Austin Russell, founder and former CEO of Luminar, stepped down from his leadership roles following the company board's decision amid an ethics inquiry. Paul Ricci, the former CEO of Nuance, has been appointed to take over. Despite this significant leadership change, Luminar's recent earnings report did not acknowledge the shift, nor did it affect the company's financial outcomes. Russell will continue to serve on the board and assist in transitioning responsibilities, although the exact nature of the inquiry remains undisclosed.
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.
The board's statement regarding Russell's resignation followed a code of business conduct and ethics inquiry for the audit committee of Luminar's board.
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