Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) announced leadership changes effective May 5, with founder YT Jia appointed as sole global CEO and Jerry Wang as global executive chairman.

The board accepted the resignation of Matthias Aydt from his position as global co-CEO. Aydt will serve temporarily as an internal advisor while a new role is discussed. The board also appointed independent director Chad Chen as lead independent director.

As CEO, Jia will oversee product development, AI research and development, supply chain, manufacturing, and other business areas. He will share oversight of strategy, capital markets, investor relations, human resources, and corporate operations with Wang. Wang will directly manage finance, legal, government affairs, strategic cooperation, and risk management functions.

The company reported shipping 68 AI robots with positive gross margins as of April 30. Faraday Future plans to continue production increases in May and targets 200 unit deliveries by the end of June. The company expects cumulative shipments to exceed 1,000 units in 2026.

Faraday Future stated it will announce five transformation initiatives next week as part of its dual-engine strategy focusing on AI robotics and electric vehicles. The company describes itself as pursuing a "Three-in-One ecosystem" consisting of device, data, and brain components with open-source and open platform elements.

The leadership transition marks the return of founding team members to executive positions. Jia previously served as co-CEO starting in April 2025, during which time the company concluded a four-year SEC investigation with no penalties.

The company faces a 180-day period to regain Nasdaq compliance and continues efforts to rebuild market confidence. Faraday Future's stock will be suspended from trading if the closing price remains at $0.10 or less for 10 consecutive trading days.