By Adam L. Cataldo
Luminar Technologies President and Chief Executive Austin Russell has resigned effective immediately following an internal investigation.
The audit committee of the board of directors conducted a code of business conduct and ethics inquiry into Russell, the company's founder, Luminar said Wednesday. No additional information about the probe was provided.
Paul Ricci was named Russell's successor. He is scheduled to take over on or about May 21.
The inquiry won't affect Luminar's financial results, and Russell will remain on the board, the company said. He will also be available to assist Ricci on transition and technology matters.
Ricci most recently worked as an adviser to Lightspeed Venture Partners, and also as an adviser at Warburg Pincus. He has served on the boards of Personalis, Qualifacts, Intelligent Medical Objects, and SOC Telemed, Luminar said.
Based in Orlando, Fla., Luminar is an automotive technology company that has built an advanced hardware and software/AI platform used by Mercedes-Benz, Nvidia and others.
Write to Adam Cataldo at adam.cataldo@wsj.com
(END) Dow Jones Newswires
May 14, 2025 18:16 ET (22:16 GMT)
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