Lucid Appoints Former Rolls-Royce CPO, Baird Cuts Target to $14, Plans 12% Layoffs
On February 9, Lucid named Neil Marsons, former Rolls-Royce CPO, as SVP of Supply Chain reporting to Marc Winterhoff, while SVP Claudia Gast departed. Baird cut its price target to $14 from $17 after Lucid reported production of 18,378 vehicles and 15,841 deliveries and announced a 12% workforce reduction.
1. Executive Leadership Changes
On February 9, Lucid appointed Neil Marsons, former Rolls-Royce Chief Procurement Officer, as Senior Vice President of Supply Chain reporting to Interim CEO Marc Winterhoff. Claudia Gast, who served as Senior Vice President of Strategy and Business Development, has left to pursue new opportunities.
2. Operational Performance and Analyst Revision
Lucid produced 18,378 vehicles and delivered 15,841 in 2025, with fourth-quarter figures of 8,412 manufactured and 5,345 delivered. Following uneven Q4 deliveries, Baird lowered its price target from $17 to $14 while maintaining a Neutral rating.
3. Cost Reduction Measures
In an effort to improve operational effectiveness, Lucid will reduce its workforce by 12% as part of broader profitability initiatives.