Faraday Future Announces Management Transition | News


LOS ANGELES–(BUSINESS WIRE)–March 1, 2022–

Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based global shared smart electric mobility ecosystem company, today announced the appointment of Becky Roof as Interim Chief Financial Officer and the engagement of AlixPartners, LLP. Effective immediately, Ms. Roof will replace Walter J. (“Chuck”) McBride, who left his position for health reasons.

Sue Swenson, Executive Chairman of Faraday Future, said: “As we work to accelerate our remediation plan and strengthen the company’s financial controls, I am delighted to welcome Becky and the team at AlixPartners to lead this effort. Becky’s extensive experience in public companies, including successful turnarounds, gives us confidence that we can act even more quickly and efficiently.

The Company’s Audit Committee and senior management are working diligently to file the Third Quarter 2021 Form 10-Q and Amended Registration Statement on Form S-1 (File No. 333-258993) as soon as possible. possible.

Ms. Roof is a chartered accountant and seasoned financial executive who has served as interim chief financial officer at numerous companies, including Lordstown Motors (Nasdaq: RIDE); Eastman Kodak Company (NYSE: KODK); Hudson’s Bay Company; Aceto Corp. ; Anchor Glass Corporation; and several other private entities.

Users can reserve an FF 91 Futurist model now through the FF smart app or FF.com at: https://www.ff.com/us/reserve.

Download the new FF smart app at: https://apps.apple.com/us/app/id1454187098 Where https://play.google.com/store/apps/details?id=com.faradayfuture.online.

ABOUT FARADAY FUTURE

Faraday Future is a class-defining luxury electric vehicle company. The company has launched many innovations regarding its products, technology, business model and user ecosystem since its inception in 2014. Faraday Future aims to continuously improve the way people move by creating a mobility ecosystem before -thinking that integrates clean energy, AI, the Internet and new models of use. Faraday Future’s first flagship is the FF 91 Futurist.

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NO OFFER OR SOLICITATION

This communication will not constitute an offer to sell or the solicitation of an offer to buy securities, and there will be no sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction.

FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “believe”, “projected “, “expects”, “anticipates”, “plans”, “plans”, “intends”, “believes”, “seeks”, “may”, “will”, “should”, ” future”, “proposes” and variations of these words or similar expressions (or negative versions of these words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of Faraday Future, which could lead to actual earnings or results. differ materially from those discussed in the forward-looking statements.

Important factors, among others, that may affect actual results or results include the implementation of the actions of the special committee and the related internal review by Faraday Future; Faraday Future’s ability to file Q3 Form 10-Q and other required public documents prior to the time specified in Nasdaq’s delinquency letter and its ability to regain compliance with Nasdaq’s continuous listing standards; Faraday Future’s ability to execute its vehicle development and commercialization plans and the timing of such development programs; Faraday Future’s estimates of the size of the markets for its vehicles and the costs of bringing its vehicles to market; the rate and degree of market acceptance of Faraday Future vehicles; the success of other competing manufacturers; the performance and safety of Faraday Future vehicles; potential litigation involving Faraday Future; the outcome of future funding efforts and general economic and market conditions affecting demand for Faraday Future’s products; and Faraday Future’s ability to attract and retain employees. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Preliminary Registration Statement on Form S-1 recently filed by Faraday Future and other filings by Faraday Future. from time to time with the SEC. . These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on any forward-looking statements, and Faraday Future undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. except as required by law. .

Show source version on businesswire.com:https://www.businesswire.com/news/home/20220301006280/en/

CONTACT: For the future of Faraday

Marc Connelly

Investors: [email protected] Schilling

Media: [email protected] Gilman

Media: [email protected]

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: AUTOMOTIVE ENGINEERING AUTOMOTIVE MANUFACTURING MANUFACTURING PERFORMANCE AND SPECIAL INTEREST VEHICLES/ALTERNATIVE FUELS

SOURCE: Faraday Future Intelligent Electric Inc.

Copyright BusinessWire 2022.

PUBLISHED: 03/01/2022 19:15 / DISK: 03/01/2022 19:16

http://www.businesswire.com/news/home/20220301006280/en

Copyright BusinessWire 2022.



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