Luminar Technologies Appoints Paul Ricci as New CEO

Published 4 hours agoLAZR

Luminar Technologies Appoints Paul Ricci as New CEO

Luminar Technologies has announced a significant leadership change with the appointment of Paul Ricci as CEO. This follows the resignation of Austin Russell, the company's founder, who stepped down amid an ethics inquiry.

Austin Russell, who established Luminar in 2012, resigned from his top position as an ethics investigation looms. Luminar, known for its vision-based lidar and machine perception technologies for self-driving vehicles, went public in December 2020. This move had catapulted Russell into the spotlight as the world's youngest self-made billionaire. Reuters reported that as of May 14, 2025, the company's stock is trading at $4.76, reflecting a 5.52% uptick from the previous day's closing price.

The new CEO, Paul Ricci, is expected to steer the company through this phase, addressing any hurdles presented by the current ethical challenges. Luminar's focus will likely remain on maintaining its leadership in lidar technology for autonomous vehicles, navigating both internal and market related demands effectively.

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