Austin Russell

Billionaire founder of Luminar replaced as CEO following ethics inquiry

Austin Russell, who became a billionaire after his lidar startup Luminar went public, appears to be out as CEO, according to the company’s board. Luminar’s board announced Wednesday — the same day of its first-quarter earnings report — it had replaced Russell and appointed Paul Ricci to the role. Ricci is the former chairman and […]

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Billionaire founder of Luminar replaced as CEO following ethics inquiry

Austin Russell, who became a billionaire after his lidar startup Luminar went public, appears to be out as CEO, according to the company’s board. Luminar’s board announced Wednesday — the same day of its first-quarter earnings report — it had replaced Russell and appointed Paul Ricci to the role. Ricci is the former chairman and

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Luminar cuts 20% of staff and outsources lidar production

Lidar company Luminar is slashing its workforce by 20% and will lean harder on its contract manufacturing partner as part of a restructuring that will shift the company to a more “asset-light” business model, as it aims to scale production. The cuts will affect around 140 employees, and are starting immediately. Luminar is also cutting

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