Battery Maker QuantumScape Names Chip Veteran as CEO
- Singh to step down from top post Feb. 15, will remain chairman
- Incoming CEO Sivaram joined QuantumScape from Western Digital
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QuantumScape Corp., the solid-state battery maker that counts Volkswagen AG as its biggest shareholder, said Chief Executive Officer Jagdeep Singh is stepping down after 13 years.
Siva Sivaram, a semiconductor industry veteran who joined QuantumScape in September, will take over as CEO in a move the two executives said has been in the making for nearly a year. Singh is the largest individual shareholder in the San Jose, California-based company and will remain chairman. Relinquishing his role as CEO means he has to let go of a target-linked compensation package that could have got him as much as $2.3 billion in stock options.