Lucid Group, announced the strategic appointment of Taoufiq Boussaid as the new Chief Financial Officer of Lucid Motors. With extensive experience in financial management and strategic planning, Boussaid is expected to play a pivotal role in guiding the company’s financial operations and supporting its growth trajectory in the competitive electric vehicle market. This leadership change aligns with Lucid’s commitment to enhancing its financial framework as it continues to innovate and expand its product offerings. Taoufiq will be joining the Lucid team on February 25th, 2025.

Taoufiq brings more than 30 years of experience in the industry to his new role. He is joining the team from Bekaert, a prominent global leader in the steel wire sector, known for its innovative products and solutions. Bekaert boasts an impressive annual revenue exceeding $5 billion, solidifying its position as one of the largest companies in the industry.

Taoufiq held the position of Chief Financial Officer at Bakaert for over five years, where he led a team of more than 450 employees spanning five continents. Throughout his tenure, he implemented strategic initiatives that not only streamlined operations but also significantly enhanced profitability. His leadership was pivotal in driving transformative changes that resulted in substantial increases in shareholder value.

Here are Taoufiq’s remarks shared from his personal LinkedIn page.

Lucid Motors CEO and CTO Peter Rawlinson had this to say about welcoming Taoufiq to the team:

“Taoufiq is joining Lucid at a pivotal time as we ramp up production of the Lucid Gravity SUV and accelerate our progress toward achieving our strategic goals,” said Peter Rawlinson, CEO and CTO of Lucid. “With decades of experience in strategic finance and operational transformation, Taoufiq will bring valuable expertise to our leadership team. His proven ability to align financial strategy with business objectives will be critical in scaling our operations efficiently and effectively as we prepare for the launch of our midsize vehicles. I would also like to extend my gratitude to Gagan for his leadership as interim CFO and his continued contributions to Lucid’s success.” 

Let’s hope we see the same successful strategies implemented here as Taoufiq has proven in his career. Welcome to the Lucid Family, Taoufiq.