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Faraday Future Intelligent Electric Inc (NASDAQ: FFIE) Board of Directors has appointed FF China CEO Xuefeng (XF) Chen as Global CEO of the company, effective immediately.
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Chen will replace Carsten Breitfeld, who was removed as Global CEO by the Board after evaluating the company's performance since it went public in July 2021.
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The Board has requested that Breitfeld tender his resignation from the Board in accordance with Corporate Governance Guidelines.
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Chen is now being tasked with delivering the FF 91 Futurist to market.
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XF is acknowledged within the industry as one of the youngest executives in charge of the China side of business in automotive joint ventures. Chen is also well-versed in U.S. markets, the company noted.
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"The Company's top priority right now is to deliver the FF 91 Futurist to our users with high quality and minimal cost, and to successfully realize the US-China dual home market strategy with the ultimate goal to maximize Faraday Future stockholder interest," said board chair Adam He.
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The move comes after the EV company raised concerns about continuing its operations and delivering its FF91 luxury electric car.
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Price Action: FFIE shares are trading higher by 2.50% at $0.3113 in premarket on the last check Tuesday.
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Photo Via Company
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