Lucid Group Appoints Taoufiq Boussaid as CFO Amidst Production Ramp-Up
Lucid Group announced the appointment of industry veteran Taoufiq Boussaid as its Chief Financial Officer (CFO), effective February 25th.
Boussaid brings extensive finance experience from his previous tenure as Group CFO at NV Bekaert SA, where he played a pivotal role in reducing debt from 2019 to 2024.
His appointment comes as Lucid accelerates the production of its Lucid Gravity SUV, aiming to expand its market reach. Interim CFO Gagan Dhingra will transition to Senior Vice President of Finance and Accounting, reporting directly to Boussaid.
Boussaid's annual base salary will be $575,000, while Dhingra will receive a revised compensation of $475,000 annually.
This move follows Lucid's recent announcement of exceeding quarterly vehicle delivery estimates, driven by reduced pricing and financing incentives.