Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Marc Winterhoff departed as Chief Operating Officer at Lucid Group, Inc..
- Action
- departed
- Role
- Chief Operating Officer
Exact text from the filing
On June 22, 2026, the Company announced that Marc Winterhoff, Chief Operating Officer, has departed the Company, effective immediately following the elimination of the Chief Operating Officer position.
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Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 1.0
Lucid Group, Inc. announced a restructuring with charges of cash charges of approximately $32 million related to severance, employee benefits, and employee transition affecting U.S. workforce (reduction of the Company’s current U.S. workforce by approximately 18 percent).
- Type
- restructuring
- Charge
- cash charges of approximately $32 million related to severance, employee benefits, and employee transition
- Affected area
- U.S. workforce
- Headcount
- reduction of the Company’s current U.S. workforce by approximately 18 percent
Exact text from the filing
On June 22, 2026, Lucid Group, Inc. (the “ Company ”) announced a plan (the “ Plan ”) designed to advance the Company’s path toward profitability and positive cash flow generation by streamlining its organizational structure, optimizing operating expenses, and aligning production plans with anticipated demand. This involves a reduction of the Company’s current U.S. workforce by approximately 18 percent, including full-time employees, contractors and hourly production workers in manufacturing. As part of this reduction, the Company has eliminated the second shift of production at its AMP-1 factory. The Plan is expected to provide the Company with annualized cost savings of approximately $158 million. The Company estimates that it will incur cash charges of approximately $32 million related to severance, employee benefits, and employee transition. The Company expects to substantially complete the Plan by the end of the third quarter of 2026, subject to local law and consultation requirem
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