EV maker Lucid's CFO Sherry House to step down
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FILE PHOTO: The LUCID electric car logo os shown above one of the company retail stores in a shopping mall in San Diego, California, U.S.,October 20, 2023. REUTERS/Mike Blake/File Photo
(Reuters) - Lucid Group on Monday said Sherry House would be stepping down as its finance chief, effective immediately, to pursue other opportunities.
The luxury electric car maker said Gagan Dhingra, who is vice-president of accounting, would additionally serve as interim CFO while it searches for a replacement.
Dhingra has been with Lucid for two years and has decades of prior accounting and finance experience, Lucid said.
House, who served as Lucid's CFO since 2021, will continue in an advisory role until Dec. 31, the company added.
Shares of Lucid, known for its flagship Air luxury electric sedan, dropped about 4% in extended trading.
The news comes days after Nasdaq said it had removed Lucid from its Nasdaq 100 index in an annual shuffle.
In November, Lucid said it expected to produce 8,000–8,500 vehicles this year, down from its earlier projection of more than 10,000 units.
(Reporting by Granth Vanaik in Bengaluru; Editing by Maju Samuel)
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