Electric-car startup Faraday Future Intelligent Electric Inc. on Monday said its board removed Global Chief Executive Carsten Breitfeld and replaced him with Xuefeng Chen. Faraday Future
FFIE,
-5.45%
said Breitfeld was removed following a comprehensive evaluation of the company’s performance since it went public in July 2021. The board said it has requested Breitfeld tender his resignation from the board in accordance with its corporate governance guidelines.
Chen has served as CEO of FF China in addition to prior stints throughout the automotive industry.