Lucid CFO Sherry House quits

House will resign from her position immediately "to pursue other opportunities," the carmaker says. However, she will remain available in an "advisory role" until the end of the year.

Lucid Motors has already begun looking for a new Chief Financial Officer (CFO) to take over for Sherry House. Meanwhile, Gagan Dhingra, Lucid’s current Vice President of Accounting and Principal Accounting Officer, will serve as interim CFO and Principal Financial Officer.

“I want to thank Sherry for her contributions to the company during her tenure,” said Peter Rawlinson, Lucid’s Chief Executive Officer (CEO) and Chief Technology Officer (CTO). “She was a key member of our leadership team and a critical player during major corporate moments, including Lucid’s public listing in 2021, the production and delivery of Lucid Air, and the recent unveiling of Lucid Gravity. We wish Sherry the best of luck in her next chapter.”

House quit after Nasdaq said it had removed Lucid from its Nasdaq 100 Index in an annual shuffle, effective 18 December. The Index lists the largest non-financial firms listed on the Nasdaq Stock Market.

Lucid was first listed on the Index in 2021 and is now one of six companies removed. This comes after the US carmaker has been struggling with falling turnover and deliveries. Moreover, Lucid again cut its production target for the current year in November for a second time.

The US company now expects to produce only 8,000 to 8,500 electric cars in 2023. In May, Lucid had already reduced its production forecast for this year from 10,000 to 14,000 to “more than 10,000” vehicles.

lucidmotors.com, nasdaq.com