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Two top Faraday Future executives just resigned

Two top Faraday Future executives just resigned


Further signs of trouble for electric carmaker

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Faraday Future, the much-hyped electric carmaker that lately has descended into turmoil, just lost two of its top executives, two sources confirmed to The Verge.

Marco Mattiacci, chief brand and commercial officer, and Joerg Sommer, vice president for product marketing and growth, have left the company, the sources said. Both have been removed from FF’s website, two blank spaces where their profiles once stood.

The Verge has reached out to an FF spokesperson for comment, and we’ll update this post if we hear back.

Before joining FF, Mattiacci was president and CEO of Ferrari North America and Ferrari Asia Pacific, as well as managing director and team principal of Scuderia Ferrari Formula 1 racing team. He was a big get for FF when he joined just seven months ago. Former employees characterized Mattiacci as someone at the company attempting to right the ship and fix many of FF’s financial mistakes.

Sommer, a former Volkswagen executive, was at FF for even shorter stretch, having just come on board just three months ago. Prior to his work at VW, Sommer held executive roles at several European carmakers, including Daimler, Opel, and Renault.

One source said the resignations of Mattiacci and Sommer could be seen as a round of belt-tightening by FF prior to the debut of its first production model at CES in two weeks. Both executives were highly compensated, and their departure could free up needed funds for the company.

Yesterday, The Verge published a behind the scenes report of FF during a time of both high expectations and worrisome financial news for the electric carmaker. But interviews with a half-dozen former employees showed the company’s financial situation to be dire, while mounting debts, unpaid bills, supplier lawsuits, and financial mismanagement have all served to chip away at Faraday Future’s foundation.