It looks like Marco Mattiaci and Joerg Sommer won’t be there for the January 3 debut.
In just a few days, Faraday Future is scheduled to debut its new SUV at the Consumer Electronics Show (CES) in Vegas. A big accomplishment for such a small automaker. Unfortunately, it looks like the company will be doing so without two of its top executives.
On Friday, Chief Brand and Commercial Officer Marco Mattiaci and VP for Product Marketing Joerg Sommer reportedly left the company, according to a report from The Verge. The two top-level executives had both joined the team less than a year ago.
Mattiacci, former President and CEO of Ferrari North America and Ferrari Asia Pacific, joined the Faraday Future team seven months ago, and was characterized as making an attempt to fix many of Faraday Future’s financial mistakes. Sommer, meanwhile, joined the Faraday Future team just three months prior, after a working at companies like VW, Daimler, Opel, and Renault.
Reports suggest that the two departures could be part of a "belt-tightening" exercise by Faraday Future prior to the debut of its new crossover SUV (rendered here) at CES in two weeks. Both executives reportedly received plenty of compensation and their departures and are said to have freed up needed funds for future product.
It’s just another hit to the company that seemingly continues to struggle. Earlier in the month it was reported that the company owed more than $10 million to supplier Futurius and an additional $104,950 in rent to Beim Maple Properties. Both of those figures chump change to the supposed $57 million in unpaid bills, prompting the construction AECOm to put a hold on development of the Nevada production facility.
Still, the company is moving forward with the debut of its unnamed crossover SUV in Vegas. The latest Faraday Future product will make its debut on January 3, 2017.
Source: The Verge