LCID · Lucid Group, Inc.

Lucid Group is undergoing a significant leadership transition with the appointment of Silvio Napoli, a seasoned executive from Schindler Group, as its next CEO. Napoli, aged 60, brings extensive experience in global industrial leadership, including roles as Chairman and CEO at Schindler, and currently serves on Eaton's board. He starts on April 15, 2026, initially as Executive Director in Switzerland, transitioning to CEO in Newark, California, upon U.S. work authorization. His rich compensation package underscores the board's commitment to attracting top talent, featuring a $1.5 million base salary, substantial performance incentives up to 300% of base, long-term equity grants totaling $9.5 million in target value, and a unique one-time grant of up to 1 million performance stock options tied to escalating market capitalization milestones from $5 billion to $17.5 billion over five years. Marc Winterhoff, the reliable Interim CEO, will revert to COO with enhanced terms including a $1 million base, $5.4 million LTI, and performance bonuses mirroring Napoli's market cap hurdles, rewarding his stewardship during a challenging period. This change signals a strategic pivot toward operational discipline, growth scaling for vehicles like Lucid Gravity and Air, and profitability, with no disclosed conflicts or arrangements influencing the appointments.