Lucid Group Inc (NASDAQ:LCID) shares tumbled nearly 10% Tuesday after CFO Sherry House announced plans to leave the company to pursue other opportunities.
Gagan Dhingra, Lucid’s vice-president of accounting, will serve as interim CFO while the company finds a successor, the company said. Dhingra has worked for the luxury electric car maker for two years.
House, who has served as CFO since 2021, will remain in an advisory role through the end of the year.
The move comes a month after Lucid’s third-quarter results missed expectations, and the company slashed its EV production guidance for the year from 10,000 to a range of 8,000 to 8,500.