Arrival (the “Company”), announces that Mr. F. Peter Cuneo has been appointed as Interim Chief Executive Officer.
Mr. Cuneo stated, “I intend to bring the full depth of my experience to this operational role, ensuring that the Company executes on its next set of strategic goals. I look forward to working closely with Denis, the rest of the Board and our employees for the benefit of all Arrival’s stakeholders.”
Mr. Denis Sverdlov is concurrently stepping down from his role as Chief Executive Officer and has been appointed as Chairman of the Board in the place of Mr. Cuneo who has resigned from the Board and the Audit Committee in order to focus on his duties as Interim CEO. Mr. Cuneo will continue to attend Board meetings as an observer.
Mr. Sverdlov stated, “I am more committed than ever to ensuring Arrival’s success, and I will continue to act in the best interests of the Company, shareholders, customers, partners and employees.”
Mr. Avinash Rugoobur resigned as President and Chief of Strategy on 22 November, 2022 for personal reasons, but will remain a Board member. Mr. Rugoobur stated, “It’s been an incredible four years at Arrival, which has included an IPO, developing a world class team, technology and key partnerships. I am delighted to continue being part of Arrival as a Board member.”
Mr. Rexford Tibbens will assume the role of Chairman of the Company’s Strategic Planning and Operations Committee, which will work closely with management and focus on achieving key milestones across all divisions of the Company, including fundraising.