Quanergy CEO Leaves After Driverless Tech Unicorn Stumbles
Louay Eldada
Photographer: David McNew/AFP via Getty Images
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Quanergy Systems Inc.. said Chief Executive Officer and co-founder Louay Eldada stepped down after the driverless car technology startup failed to fulfill technical promises and questions mounted about its finances.
Kevin Kennedy, who joined Quanergy’s board last April, will take over as interim CEO, it said in a statement released publicly after Bloomberg News inquired about the leadership change. Eldada also left the board, effective Jan. 13, the company said.