Mobileye Founder Stepping Down as CEO After Volatile Run
(Bloomberg) -- Amnon Shashua is stepping down as chief executive officer of Mobileye Global Inc., the driver-assistance systems supplier he took public before and after
(Bloomberg) -- Amnon Shashua is stepping down as chief executive officer of Mobileye Global Inc., the driver-assistance systems supplier he took public before and after a more than $15 billion sale to Intel Corp. Shashua, 66, informed Mobileye’s board of his intention to cede the CEO role once a successor is appointed, the Jerusalem-based company announced Thursday alongside quarterly earnings that beat analysts’ estimates. The computer scientist co-founded Mobileye in 1999, led the biggest US initial public offering by an Israeli company in 2014, then sold to Intel in 2017.
Since Mobileye relisted in 2022, the shares have fallen 65% as of Thursday afternoon in New York. In an interview with Bloomberg Television, Shashua said now that Mobileye’s technological foundation has been established, the company needs a leader for its next phase of growth. “We are at an inflection point in which there is no open scientific problem in the software stacks that we are developing,” he said. “Everything is running either off-line or online and is ready for robotaxi and everything we are developing.” Mobileye’s board of directors will conduct a search for Shashua’s successor, and he’ll remain CEO in the interim.
The board has offered him the role of chairman after he steps down. Shashua clashed with Tesla Inc. CEO Elon Musk after a Model S driver died in a 2016 crash while using Autopilot, a driver-assistance system then reliant on Mobileye cameras. In the decade since the two companies parted ways, Mobileye has established ties with automakers including Toyota Motor Corp., Volkswagen Group, General Motors Co. and Ford Motor Co. With assistance from Ed Ludlow.
(Updates with comments from interview with Bloomberg Television starting in the fourth paragraph.) More stories like this are available on bloomberg.com
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