Lucid Announces Appointment of Lisa M. Lambert to Board of Directors

Rhea-AI Summary

Lucid Group announced the appointment of Lisa M. Lambert to its board of directors, effective immediately. Lambert brings extensive experience in sustainability, infrastructure, and technology, having previously led projects at Intel and National Grid. She currently serves as Chief Investment Officer at the George Kaiser Family Foundation. Lambert's experience includes roles such as Chief Technology and Innovation Officer at National Grid and Managing Partner at The Westly Group. Lucid's CEO, Peter Rawlinson, highlighted Lambert's background in technology and sustainability as instrumental for the company's future growth. The company's board now includes nine members, all re-elected at Lucid's 2024 Annual Meeting of Stockholders.

Positive

• Appointment of Lisa M. Lambert adds extensive technology and sustainability expertise to Lucid's board.
• Lambert has a proven track record with major companies like Intel and National Grid.
• Lucid's board now includes nine experienced members, providing a strong governance structure.
• Peter Rawlinson, Lucid's CEO, emphasizes Lambert's background as key to guiding Lucid's aggressive growth plans.

Negative

• No immediate financial impact or new product announcements were mentioned in the press release.
• Potential shareholder concerns about the cost and implications of board expansion were not addressed.

Former Intel, National Grid Executive Brings Technology and Sustainability Leadership to the Company

NEWARK, Calif., June 4, 2024 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), maker of the world's most advanced electric vehicles, today announced the election of Lisa M. Lambert to its board of directors effective immediately. Lambert was elected at Lucid's 2024 Annual Meeting of Stockholders and will bring extensive technology experience to Lucid after having led sustainability, infrastructure and technology projects at companies ranging from Intel to National Grid. 

"Lucid's team has not only reimagined what an electric vehicle can be but has also pushed the industry to rethink the role that efficiency and advanced technology play in moving us all toward a more sustainable future," said Lambert. "I'm delighted to be joining the Lucid board of directors and am excited to be part of the company's next stage of growth."

Lambert currently serves as Chief Investment Officer, Private Markets at the George Kaiser Family Foundation. Between 2018 and 2023, Lambert served as Chief Technology and Innovation Officer at National Grid Plc as well as Founder and President of National Grid Partners. In her role at National Grid, Lambert was responsible for leading investments and innovations across the company. Previously, Lambert also served as Managing Partner at The Westly Group and worked at Intel for almost two decades, holding various leadership positions including Vice President and Managing Director of the Software and Services Fund for Intel Capital, and Founder and Managing Director of the Intel Capital Diversity Fund. She also currently serves on the board of directors for Vital Energy, Inc. and UL Solutions, Inc.

"As we build a more sustainable future, Lisa's deep background in technology, innovation and sustainability will help guide our company's aggressive growth plans," said Peter Rawlinson, CEO and CTO at Lucid.

Lucid's board is composed of nine members. The company's other board members, Turqi Alnowaiser, Andrew Liveris, Sherif Marakby, Nichelle Maynard-Elliott, Chabi Nouri, Peter Rawlinson, Ori Winitzer and Janet S. Wong, were re-elected today.

About Lucid Group

Lucid's mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience. The Company's first car, the Air, is a state-of-the-art luxury sedan with a California-inspired design. Assembled at Lucid's factories in Casa Grande, Arizona, and King Abdullah Economic City (KAEC), Saudi Arabia, deliveries of Lucid Air are currently underway to customers in the U.S., Canada, Europe, and the Middle East.

Investor Relations Contact
investor@lucidmotors.com

Media Contact
media@lucidmotors.com

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This communication contains trademarks, service marks, trade names and copyrights of Lucid Group, Inc. and its subsidiaries and other companies, which are the property of their respective owners.

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SOURCE Lucid Group

FAQ

Who was appointed to Lucid's board of directors in June 2024?

Lisa M. Lambert was appointed to Lucid's board of directors in June 2024.

What experience does Lisa M. Lambert bring to Lucid's board?

Lisa M. Lambert brings extensive experience in technology, sustainability, and infrastructure from her time at Intel and National Grid.

What is Lisa M. Lambert's current role outside of Lucid?

Lisa M. Lambert currently serves as Chief Investment Officer, Private Markets at the George Kaiser Family Foundation.

How many members are on Lucid's board of directors as of June 2024?

As of June 2024, Lucid's board of directors consists of nine members.

What positions did Lisa M. Lambert hold at National Grid?

At National Grid, Lisa M. Lambert served as Chief Technology and Innovation Officer and was Founder and President of National Grid Partners.