Automotive lidar company Luminar Technologies has announced the resignation of president, CEO, and chairman Austin Russell, following a code of business conduct and ethics inquiry by the audit committee of the board of directors. The company named Paul Ricci CEO. Luminar made the announcement Wednesday, the same day that the company shared its first quarter earnings. “In a world of macro uncertainty and adversity, we’re firing on all cylinders to ramp up production, ramp down costs, and capitalize on the future, as evidenced by our announcements today,” Russell said in a press release accompanying the quarterly results. The quote came as the company unveiled a “New Operating Plan Enabled by Unified Product Architecture.” According to Luminar, the plan creates a new global lidar standard with top OEMs and streamlines business. Company CFO Tom Fennimore noted Russell’s departure from the leadership team during Wednesday’s quarterly results presentation. Fennimore told attendees that the company plans to let the press release speak for itself, and that it hopes to hold another business update call with incoming CEO Ricci to provide further details about the company’s new operating plans. Ricci previously served as chairman and CEO of technology company Nuance for close to two decades. Most recently, he has served as an advisor to Lightspeed Venture Partners and previously as an advisor to Warburg Pincus. He has served on the boards of Personalis, Qualifacts, Intelligent Medical Objects, and SOC Telemed. In addition to being a director, Ricci served as CEO of Qualifacts from 2020 to 2023. Russell will remain on the company’s board of directors and will be available to the incoming CEO on transition and technology matters, Luminar said in a press release.