- After 14 years in the position
- Praise and thanks for Singh
- Siva Sivaram taking over
- Singh will remain as Chairman at QuantumScape
- Singh said 97 words
(exechange) — San Jose, California, February 14, 2024 — Jagdeep Singh, chief executive of QuantumScape, leaves his position. As announced by QuantumScape Corp. in a news release and in a regulatory filing published on Wednesday, February 14, 2024, Jagdeep Singh leaves his post as chief executive officer at the specialist in solid-state lithium-metal battery technology, after 14 years in the role, effective February 15, 2024.
Generally speaking, it raises questions when a CEO leaves his post abruptly.
Jagdeep Singh’s duties as CEO will be taken over by Siva Sivaram, most recently President at QuantumScape Corp.
“Culmination of a year-long succession plan”
The management change is explained as follows. QuantumScape stated: “Mr. Singh initiated the succession planning process in consultation with the board early last year, seeking to recruit a leader with extensive experience in manufacturing sophisticated technology products, to help lead QuantumScape’s efforts through the next phase of its growth.”
QuantumScape further stated: “Dr. Sivaram’s appointment is the culmination of a year-long succession plan initiated by the chairman of the Board and outgoing CEO, Jagdeep Singh, in consultation with the Board.”
Singh will remain as Chairman at QuantumScape
QuantumScape stated: “Co-founder and CEO Jagdeep Singh will continue to serve as Chairman of the Board of Directors.”
“Transition”
QuantumScape said: “On February 8, 2024, the Board accepted Jagdeep Singh’s request to transition from his role as CEO effective February 15, 2024, and also confirmed that Mr. Singh will be continuing in his capacity as Chairman of the Board.”
Share price decline since February 2021
The announcement follows a decline in QuantumScape Corp.’s share price of 82% since February 2021.
In the position of CEO since 2010
Jagdeep Singh became CEO of the Company in 2010.
Singh has served as the Company’s CEO and Chairman of the Board since he co-founded the Company in 2010.
Prior Experience
- Founder and Chief Executive Officer at Infinera Corporation, a telecommunications company (2001-2009)
- Served on the board of Khosla Ventures Acquisition Co. (2021-2022) and Slam Corp. (2021-2022)
Education
- B.S. in Computer Science, University of Maryland College Park
- M.B.A., University of California, Berkeley, Haas School of Business
- M.S. in Computer Science, Stanford University
97 words by Jagdeep Singh
In the release announcing his departure as CEO of QuantumScape Corp., Jagdeep Singh received praise and thanks.
In announcing his departure, Jagdeep Singh said 97 words.
“Challenge of bringing the company’s technology into high-volume production”
Jagdeep Singh stated: “Founding QuantumScape has been the highlight of my career. I profoundly believe in the mission and the success of this company and team, and we are closer than ever to having a real impact on the automotive industry. Siva immediately impressed the team after coming on as President with his operational skills, strategic vision and ability to drive results. Siva is the right leader at the right time to take on the challenge of bringing the company’s technology into high-volume production. I look forward to our continued work together to bring QuantumScape’s solid-state lithium-metal batteries to market.”
Push-out Score for Jagdeep Singh’s move determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Jagdeep Singh’s move on a scale of 0 to 10.
Read the full story in the exechange report 8.2024 ($).