Lucid Motors’ new CEO continues to restructure the company after announcing hundreds of job cuts last month: The electric vehicle maker said Thursday that its chief financial officer, Taoufiq Boussaid, will leave the company.

Boussaid’s pending departure comes amid a flurry of new executive hires aimed at bolstering the company’s leadership as Lucid’s new CEO, Silvio Napoli, attempts to “streamline the company.”

Lucid said Thursday it hired a new chief financial officer, chief technology officer, chief customer officer, chief digital officer and chief transformation officer. Napoli is also halving the number of its direct reports.

The company said this new leadership team “will meet at the company’s headquarters and manufacturing centers to foster closer collaboration” and, as a result, its senior vice presidents of revenue, marketing and vice president of program management “will leave Lucid to stay closer to their families and communities.”

All of these changes come just weeks after Napoli officially took over the top job. Lucid Motors spent more than a year trying to find a replacement for Peter Rawlinson, who abruptly resigned as CEO and chief technology officer in February 2025. The Saudi-owned company has struggled to find the kinds of big markets for its electric sedan and SUV that it promised would exist when it went public in a reverse merger in 2021 with a special purpose acquisition company.

When it announced layoffs last week, the company said it needed to align its “production plans with anticipated demand.” The company will also eliminate a second shift at its Arizona factory. The round of layoffs, its second major workforce reduction this year, is expected to save Lucid Motors about $158 million a year.

On Thursday, Lucid said it delivered 3,953 vehicles in the second quarter, only slightly more than a year earlier, a sign that its Gravity SUV has not taken off as expected. By contrast, other EV manufacturers are finding ways to weather the headwinds plaguing the U.S. EV market right now. Rivian, for example, raised its 2026 sales forecast on Thursday.

Lucid Motors is about to launch a smaller SUV called the Cosmos, which, at an expected price of around $50,000, could be its first mass-market success. At the same time, Lucid is working with autonomous vehicle technology company Nuro and travel giant Uber to create a luxury robotaxi service that will launch in San Francisco later this year and potentially expand to Houston in 2027.

Lucid Motors has said the restructuring aims to “simplify the business, improve execution and position Lucid to be more competitive over time,” although it has not said whether any of its plans will be affected.

“We are streamlining the organization, strengthening leadership, enforcing accountability and aligning our structure with the priorities that matter most: customers, quality and innovation,” Napoli said in a statement Thursday. “The caliber of leaders joining Lucid’s leadership team is a testament to the inherent value of our business and the exciting prospects ahead. We are building a new team that will transform the company.”