Faraday Future is changing CEO Carsten Breitfeld amid an overhaul of the corporate’s board of administrators.
The Los Angeles-based EV startup stated in a submitting Monday that its board voted Nov. 26 to take away Breitfeld, a former BMW govt, from his publish and substitute him with Xuefeng Chen, who at present leads Faraday’s China division.
The board has requested Breitfeld to resign following a “complete analysis of the efficiency of the corporate because it went public in July 2021,” the corporate stated.
Breitfeld didn’t instantly reply to a request for remark.
Breitfeld’s ouster comes after a months-long battle between the corporate and its largest shareholders, together with a gaggle related to founder Jia Yueting.
Breitfeld spent 20 years at BMW, the place he led the i8 plug-in hybrid sportscar as group vice chairman. He additionally led engineering divisions for BMW in chassis improvement, powertrain improvement and company technique.
Earlier than becoming a member of Faraday, Breitfeld co-founded and was chairman and CEO of Chinese language EV maker Byton. He was additionally CEO of Iconiq Motors.
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