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TechCrunch
14-05-2025
- Business
- TechCrunch
Billionaire founder of Luminar replaced as CEO following ethics inquiry
Austin Russell, who became a billionaire after his lidar startup Luminar went public, appears to be out as CEO, according to the company's board. Luminar's board announced Wednesday — the same day of its first-quarter earnings report — it had replaced Russell and appointed Paul Ricci to the role. Ricci is the former Chairman and CEO of Nuance. The press release states that Russell resigned as president and CEO and as the chairperson of the board effective immediately. The board said in the press release that resignation followed a code of business conduct and ethics inquiry for the audit committee of Luminar's board. Russell will remain on the Board and be 'available to the incoming Chief Executive Officer on transition and technology matters.' However, it's not clear if Russell was forced out or resigned willingly. Russell could not be reached for comment. The board did not provide further details of this ethics inquiry except that it 'does not impact any of the company's financial results.' In a further twist, the company's earnings report and slide presentation makes no mention of the change of leadership. The first-quarter press release even includes an upbeat statement from Russell. 'In a world of macro uncertainty and adversity, we're firing on all cylinders to ramp up production, ramp down costs, and capitalize on the future, as evidenced by our announcements today,' Russell said in the statement. 'This kicks off our new operating plan for Luminar with a unified product platform, enabling radical focus and streamlining of the business, as well as unlocking value throughout our organization.' Meanwhile, the press release from the board tells another story. Techcrunch event Join us at TechCrunch Sessions: AI Secure your spot for our leading AI industry event with speakers from OpenAI, Anthropic, and Cohere. For a limited time, tickets are just $292 for an entire day of expert talks, workshops, and potent networking. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | REGISTER NOW 'We are excited to announce Paul as our next CEO,' board member Matt Simoncini said in a statement. 'His track record speaks for itself. He is a visionary leader with a rare combination of technical insight and operational excellence. His commitment to innovation, his ability to scale organizations, and his instinct for anticipating where technology is heading make him the ideal person to lead us into our next chapter of growth. The Board has full confidence in his leadership, and we are excited about what lies ahead.' Luminar burst onto the autonomous vehicle scene in April 2017 after operating for years in secrecy. Russell, who was just 22 years old at the time, was thrust into the spotlight and became a Silicon Valley success story. Luminar was founded by Russell in 2012, but it would be years before his company would be known by the public. He worked on the Luminar technology as a Thiel fellow, which gives young people $100,000 over two years to drop out of college and pursue their ideas. In 2021, Luminar merged with special purpose acquisition company Gores Metropoulos Inc., with a post-deal market valuation of $3.4 billion. Luminar raised $250 million prior to the SPAC announcement.
Business Wire
14-05-2025
- Business
- Business Wire
Luminar Announces Leadership Transition
ORLANDO, Fla.--(BUSINESS WIRE)--Luminar Technologies, Inc. (Nasdaq: LAZR), a leading global automotive technology company, today announced that the Luminar Board of Directors (the 'Board') has appointed Paul Ricci to the role of CEO effective on or about May 21, 2025. Mr. Ricci previously served as Chairman and CEO of Nuance for nearly two decades. Mr. Ricci's appointment follows the resignation of founder Austin Russell as President and CEO of the company and as the Chairperson of the Board, effective immediately, following a Code of Business Conduct and Ethics inquiry by the Audit Committee of the Board of Directors. This matter does not impact any of the Company's financial results. Mr. Russell will remain on the Board and be available to the incoming Chief Executive Officer on transition and technology matters. 'We are excited to announce Paul as our next CEO,' said Board member, Matt Simoncini. 'His track record speaks for itself. He is a visionary leader with a rare combination of technical insight and operational excellence. His commitment to innovation, his ability to scale organizations, and his instinct for anticipating where technology is heading make him the ideal person to lead us into our next chapter of growth. The Board has full confidence in his leadership, and we are excited about what lies ahead.' 'I step into this role with deep respect for the work that has come before me and energized by the opportunity," said Ricci. 'I have always believed in the potential of Luminar to drive meaningful change, solve real problems, and improve and save lives. I believe in the potential that lies ahead and am inspired by the company's mission.' Most recently, Ricci has served as an advisor to Lightspeed Venture Partners and previously as an advisor to Warburg Pincus. He has served on the boards of Personalis, Qualifacts, Intelligent Medical Objects, and SOC Telemed. In addition to being a director, Paul was CEO of Qualifacts from 2020 to 2023. While at Nuance, Ricci transformed the company from a small imaging software publisher into a $2 billion leading provider of conversational speech and AI solutions, with 14,000 employees worldwide. During his tenure, the company successfully developed a pioneering healthcare technology business, became the leading global provider of customer self-service solutions, and built one of the world's largest independent automotive software businesses. Prior to joining Nuance in 2000, Ricci spent more than a decade at Xerox Corporation, where he served as a division president. He began his career at Xerox's Palo Alto Research Center. Ricci holds bachelor's and master's degrees in economics from Stanford University. About Luminar Luminar is a global automotive technology company ushering in a new era of vehicle safety and autonomy. For the past decade, Luminar has built an advanced hardware and software/AI platform to enable its various partners, ranging from Volvo Cars and Mercedes-Benz to NVIDIA and Mobileye, to develop and deploy the world's most advanced passenger vehicles. Following the launch of the Volvo EX90 as the first global production vehicle to standardize its technology, Luminar is poised to lead the industry in enabling next-generation safety and autonomous capabilities for global production vehicles. For more information, please visit
Yahoo
14-05-2025
- Business
- Yahoo
Luminar Announces Leadership Transition
Paul Ricci Appointed CEO ORLANDO, Fla., May 14, 2025--(BUSINESS WIRE)--Luminar Technologies, Inc. (Nasdaq: LAZR), a leading global automotive technology company, today announced that the Luminar Board of Directors (the "Board") has appointed Paul Ricci to the role of CEO effective on or about May 21, 2025. Mr. Ricci previously served as Chairman and CEO of Nuance for nearly two decades. Mr. Ricci's appointment follows the resignation of founder Austin Russell as President and CEO of the company and as the Chairperson of the Board, effective immediately, following a Code of Business Conduct and Ethics inquiry by the Audit Committee of the Board of Directors. This matter does not impact any of the Company's financial results. Mr. Russell will remain on the Board and be available to the incoming Chief Executive Officer on transition and technology matters. "We are excited to announce Paul as our next CEO," said Board member, Matt Simoncini. "His track record speaks for itself. He is a visionary leader with a rare combination of technical insight and operational excellence. His commitment to innovation, his ability to scale organizations, and his instinct for anticipating where technology is heading make him the ideal person to lead us into our next chapter of growth. The Board has full confidence in his leadership, and we are excited about what lies ahead." "I step into this role with deep respect for the work that has come before me and energized by the opportunity," said Ricci. "I have always believed in the potential of Luminar to drive meaningful change, solve real problems, and improve and save lives. I believe in the potential that lies ahead and am inspired by the company's mission." Most recently, Ricci has served as an advisor to Lightspeed Venture Partners and previously as an advisor to Warburg Pincus. He has served on the boards of Personalis, Qualifacts, Intelligent Medical Objects, and SOC Telemed. In addition to being a director, Paul was CEO of Qualifacts from 2020 to 2023. While at Nuance, Ricci transformed the company from a small imaging software publisher into a $2 billion leading provider of conversational speech and AI solutions, with 14,000 employees worldwide. During his tenure, the company successfully developed a pioneering healthcare technology business, became the leading global provider of customer self-service solutions, and built one of the world's largest independent automotive software businesses. Prior to joining Nuance in 2000, Ricci spent more than a decade at Xerox Corporation, where he served as a division president. He began his career at Xerox's Palo Alto Research Center. Ricci holds bachelor's and master's degrees in economics from Stanford University. About Luminar Luminar is a global automotive technology company ushering in a new era of vehicle safety and autonomy. For the past decade, Luminar has built an advanced hardware and software/AI platform to enable its various partners, ranging from Volvo Cars and Mercedes-Benz to NVIDIA and Mobileye, to develop and deploy the world's most advanced passenger vehicles. Following the launch of the Volvo EX90 as the first global production vehicle to standardize its technology, Luminar is poised to lead the industry in enabling next-generation safety and autonomous capabilities for global production vehicles. For more information, please visit View source version on Contacts Investor Relations:Aileen (Smith) McAdamsInvestors@ Media Relations:Milin MehtaPress@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Entertainment
- Yahoo
Salma Hayek suffered 'imposter syndrome' before Sports Illustrated shoot
Salma Hayek had a "very bad case of imposter syndrome" before posing for the Sports Illustrated Swimsuit Issue. The 58-year-old actress is the cover star of this year's Sports Illustrated Swimsuit edition - but Salma has admitted to suffering lots of self-doubts before her photoshoot. The Hollywood star said on the 'Today' show: "I said yes and then when it was time to do it, I tried to back out. I said, 'No,' because the bathing suits never fit me, how am I gonna do this? There's nothing my size — I always suffer.'" Salma confessed to feeling out of her comfort zone prior to the shoot. The actress is still in a state of shock even now, suggesting that she doesn't have a model-like body. The brunette beauty - who launched her own line of cosmetics, skincare, and haircare products, called Nuance, back in 2011 - said: "I still can't believe it. "I remember when I was young and hot, I used to look at this magazine. I wanted to see who was the new gorgeous model, the new girl of the moment. And it never crossed my mind that I could be on that cover because they didn't look like me. "My body's not necessarily the model type and I never thought that was a possibility. And for it to happen when I'm 58? It's really shocking." Sports Illustrated actually sent 200 swimsuits to Salma in a bid to calm her nerves before the photoshoot. The actress shared: "I tried more than 100. A lot of them needed to be altered." Meanwhile, Salma previously revealed the secret to her youthful-looking skin. The movie star explained that she doesn't need Botox or fillers to create her flawless appearance. Selma - who is married to businessman Francois-Henri Pinault - told ELLE: "I use an ingredient called tepezcohuite that's used in Mexico for burn victims because it completely regenerates the skin. "Some of the ingredients, when I took them to the American labs, they were like, 'Oh my God! How come nobody is using this?' This is why I have no Botox, no peels, no fillers."
News18
14-05-2025
- Entertainment
- News18
Salma Hayek Suffered 'Imposter Syndrome' Before Sports Illustrated Bikini Shoot
Last Updated: 58-year-old actress is the cover star of this year's Sports Illustrated Swimsuit edition. Salma Hayek had a 'very bad case of imposter syndrome" before posing for the Sports Illustrated Swimsuit Issue. The 58-year-old actress is the cover star of this year's Sports Illustrated Swimsuit edition – but Salma has admitted to suffering lots of self-doubts before her photoshoot. The Hollywood star said on the 'Today' show: 'I said yes and then when it was time to do it, I tried to back out. I said, 'No,' because the bathing suits never fit me, how am I gonna do this? There's nothing my size — I always suffer.'" Salma confessed to feeling out of her comfort zone prior to the shoot. The actress is still in a state of shock even now, suggesting that she doesn't have a model-like body. The brunette beauty – who launched her own line of cosmetics, skincare, and haircare products, called Nuance, back in 2011 – said: 'I still can't believe it. I remember when I was young and hot, I used to look at this magazine. I wanted to see who was the new gorgeous model, the new girl of the moment. And it never crossed my mind that I could be on that cover because they didn't look like me. My body's not necessarily the model type and I never thought that was a possibility. And for it to happen when I'm 58? It's really shocking." Sports Illustrated actually sent 200 swimsuits to Salma in a bid to calm her nerves before the photoshoot. The actress shared: 'I tried more than 100. A lot of them needed to be altered." Meanwhile, Salma previously revealed the secret to her youthful-looking skin. The movie star explained that she doesn't need Botox or fillers to create her flawless appearance. Salma – who is married to businessman Francois-Henri Pinault – told ELLE: 'I use an ingredient called tepezcohuite that's used in Mexico for burn victims because it completely regenerates the skin. 'Some of the ingredients, when I took them to the American labs, they were like, 'Oh my God! How come nobody is using this?' This is why I have no Botox, no peels, no fillers." First Published:
