Arrival CEO steps back amidst the electric van startup's financial woes
completely to focus on developing its vans for the US market, citing the EV tax credits the US offers as a major factor in its decision. Cuneo will run the company while it's seeking to raise funds under the threat of bankruptcy.
Arrival likely decided on the swap, hoping Cuneo could use his expertise — after all, he's known for orchestratingand had helped guide Marvel out of bankruptcy during his tenure as its CEO. Whatever Cuneo decides to do, he'll have to accomplish it without the help of one key executive: Avinash Rugoobur, company president and strategy chief, has left his roles but will still serve as a board member. You can disable notifications at any time in your settings menu.
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