Title: Co-founder and Former CEO of Cruise Resigns Amidst Permits Suspension and Fatal Incident
Kyle Vogt, the co-founder and former CEO of Cruise, a leading self-driving car company, has announced his resignation following the suspension of the company’s permits by the California Department of Motor Vehicles (DMV). The suspension came after a fatal incident involving a pedestrian and a Cruise robotaxi.
In light of Vogt’s departure, Cruise has made major executive changes within its leadership team. Mo Elshenawy, the executive vice president of engineering, will assume the position of President and Chief Technology Officer (CTO). Furthermore, Craig Glidden will continue in his role as Chief Administrative Officer, while Jon McNeill, a current member of General Motors’ board, has been appointed as the Vice Chairman of the Cruise board.
Despite these changes, a new CEO has not yet been named for the company. The reshuffling of executives comes as Cruise faced severe criticism for its management practices and safety protocols following the tragic incident.
In an email to employees, Vogt expressed his pride in Cruise’s accomplishments over the past decade and his confidence in the company’s future. GM CEO Mary Barra also conveyed her gratitude for Vogt’s contributions and stressed the company’s unwavering commitment to public safety and transparency.
Cruise has been facing challenging times since the suspension of its driverless fleets in multiple states, resulting in layoffs of contract workers. Unfortunately, more layoffs are expected to follow.
One decision by Cruise that raised contention among employees was the suspension of the employee share-selling program, which would have cost them thousands of dollars. However, the company eventually reversed its decision and allowed a limited number of shares to be sold.
Cruise was founded in 2013 by Vogt and Cruise’s Chief Product Officer, Dan Kan. General Motors acquired the company in 2016 for a staggering amount exceeding $1 billion.
The departure of a co-founder, the suspension of permits, and the fatal accident have thrust Cruise into the spotlight. As the company navigates these challenges and undertakes necessary changes, industry stakeholders and the public are watching closely for their response as they work to regain trust and move forward in the autonomous vehicle market.
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