Luminar names Paul Ricci CEO after Russell’s resignation

Luminar (LAZR) Technologies announced that the Luminar Board of Directors has appointed Paul Ricci to the role of CEO effective on or about May 21, 2025. 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.”