Faraday Future Intelligent Electric Names Koti Meka as CFO

Dow Jones

2024/09/19

By Connor Hart

Faraday Future Intelligent Electric named Koti Meka as its top financial executive, effective Sept. 23.

Meka succeeds interim Chief Financial Officer Jonathan Maroko, who on Sunday notified the company of his resignation, according to a filing with the Securities and Exchange Commission on Wednesday.

Maroko, after his resignation goes into effect Friday, may enter into a consulting agreement providing services to the Gardena, Calif., electric-vehicle maker company.

Meka has held numerous roles at the company, most recently as acting head of finance operations since November.

As CFO, Meka will be paid an annual base salary of $300,000, which will increase to $350,000 following a six-month probationary period. However, he will initially be paid a pro-rated annual base salary of $200,000 because of ongoing cost-cutting initiatives.

He will also initially be eligible to receive a discretionary annual performance bonus up to $150,000, increasing to $200,000 following the six-month probationary period.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

September 18, 2024 17:55 ET (21:55 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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