A little more than two months later, the executive left Tesla to join Luminar. The irony is that the company is a LIDAR startup. Elon Musk called them a “fool’s errand.”. Prescott came from Tesla, where he spent four years acting most recently as General Counsel. Prior to joining Luminar, Campbell was a 20-year veteran and financial executive of Intel, most recently the Vice President of Investor Relations. Luminar, an autonomous vehicle sensor, and software company is up 19% to $19.61 in late morning trading. The Times Austin Russell: the $2.4bn 25-year-old who’s got Elon Musk worried February 2021 Forbes Luminar Partners With Zenseact To Create Full-Stack Automated Driving System March 2021 The Verge Building the Future of Self-Driving Cars March 2021 The Verge Volvo bucks the industry, will sell LIDAR-equipped self-driving cars to customers.© Provided by The Motley Fool Luminar Technologies Poaches Tesla, Intel Executives
Luminar Technologies(NASDAQ: LAZR) is attracting some notice from the market, after the company announced it has hired a pair of executives from two very high-profile peers: electric vehicle (EV) king Tesla Motors(NASDAQ: TSLA) and computer chip mainstay Intel(NASDAQ: INTC).
The Tesla luminary now employed at Luminar is Alan Prescott, who most recently served as general counsel at the EV maker. He is to be Luminar's chief legal officer. Previous to his four-year tenure at Tesla, Prescott was senior counsel at rideshare giant Uber Technologies' Advanced Technology Group. He began his career in the auto world as well, as a safety engineer at Ford.
The Intel hire is Trey Campbell; he will be Luminar's vice president for investor relations, a role he occupied at Intel, too. Campbell was at Intel for 20 years, according to his new employer, and held a variety of roles for that company.
Luminar is a specialist in lidar (for light detection and ranging). The technology is considered essential to the current and next generations of assisted driving systems. It sends rapid laser pulses to measure the environment around it, providing a detailed 'vision,' thus allowing for certain assisted functionalities.
The company has benefited from the recent investor swarm into nearly anything associated with EVs or assisted/autonomous driving. It seems that lidar has a big runway in front of it as a technology, and publicly traded lidar specialists are hard to come by.
The two new hires are both heavyweights in their respective fields; hopefully for those optimistic investors, the pair will help Luminar become a -- or even the -- dominant lidar company on the scene.
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By Automotive Editor
Alan Prescott Joins as General Counsel to lead Legal; Trey Campbell Joins as Vice President of Investor Relations
PALO ALTO, Calif.–(BUSINESS WIRE)–Luminar Technologies, Inc. (“Luminar” or “the Company”) (Nasdaq: LAZR), the global leader in automotive lidar hardware and software technology, today announced that two industry leaders have joined as executives: Alan Prescott as Chief Legal Officer, and Trey Campbell as Vice President of Investor Relations.
Alan Prescott is an automotive and autonomous industry legal expert, engineer, and 20-year veteran from top OEM and technology companies. He will be responsible for directing all legal operations as Luminar’s Chief Legal Officer. Alan joins Luminar from Tesla, where he spent four years acting most recently as General Counsel. Prior to Tesla, he led Uber’s Advanced Technology Group’s legal team as senior counsel overseeing commercial, regulatory, litigation, privacy, and cybersecurity. Alan’s career began at Ford Motor Company as a safety engineer before receiving his law degree from Georgetown University, after which he spent over 10 years leading various legal operations within the automaker, concentrating on product development and manufacturing, as well as several years as Special Counsel to the General Counsel.
Luminar And Tesla News
“Alan is an outstanding addition to our executive team with an impressive track-record and deep experience leading and directing legal functions at a range of companies in our industry,” said Austin Russell, Founder and CEO of Luminar. “He understands the challenges and nuances of operating in both the autonomous driving space and in the automotive industry more broadly, and we look forward to his insights and expertise as we continue to scale our business and accelerate the expansion of our product and commercial roadmaps.”
Trey Campbell will lead Luminar’s Investor Relations functions, acting as the primary liaison with Luminar shareholders and the financial community. Prior to joining Luminar, Trey was a 20-year veteran and financial executive of Intel Corporation. He began his career at Intel as a financial analyst in the Technology and Manufacturing group, later transitioning into Intel’s Business Groups, Corporate Strategy, Information Technology, Sales and Marketing, and has since served as Vice President of Investor Relations. During his tenure at Intel, Trey gained comprehensive expertise and fluency in managing corporate finance for existing and emerging technologies. Trey received his bachelor’s degree from the University of Texas and his MBA from the University of Illinois.
“Trey’s background in leading and growing an investor relations practice at a publicly traded global technology corporation will be invaluable to Luminar as we continue to execute on our near- and long-term initiatives to fulfill our vision,” said Tom Fennimore, Chief Financial Officer at Luminar. “Trey’s strong leadership and communication experience as well as long-standing relationships with the financial community will help tremendously as we spearhead the industry, creating shareholder value and taking Luminar to the next level.”
About Luminar Technologies
Luminar is an autonomous vehicle sensor and software company with the vision to make autonomy safe and ubiquitous by delivering the only lidar and associated software that meets the industry’s stringent performance, safety, and economic requirements. Luminar has rapidly gained over 50 industry partners, including 7 of the top 10 global automotive OEMs. Earlier this year, Luminar signed the industry’s first production deal for autonomous consumer vehicles with Volvo Cars, while also recently striking deals with Daimler Truck AG and Intel’s Mobileye. Luminar has also received minority investments from the world’s largest commercial vehicle manufacturer, Daimler Truck AG, and Volvo Cars, a global leader in automotive safety, to accelerate the introduction of autonomous trucks and cars at highway speed. Founded in 2012, Luminar is a 350-person team with offices in Palo Alto, Orlando, Colorado Springs, Detroit, and Munich. For more information please visit www.luminartech.com.
Luminar And Tesla
Certain statements included in this press release that are not historical facts may be deemed to be forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements in the quotations above regarding scaling the business of Luminar, accelerating expansion of its product and commercial roadmaps, and shareholder value creation. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Luminar’s management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to Luminar’s limited operating history; Luminar’s inability to reduce and control the cost of the inputs on which Luminar relies; Luminar’s ability to transition to an outsourced manufacturing business model; the success of Luminar’s customers in developing and commercializing products using Luminar’s solutions; Luminar’s ability to protect its intellectual property rights; whether Luminar’s lidar products are selected for inclusion in autonomous driving or ADAS systems by automotive OEMs or their suppliers; changes in personnel and availability of qualified personnel; the amount and timing of future sales; whether the complexity of Luminar’s products results in undetected defects and reliability issues which could reduce market adoption of its new products, damage its reputation and expose Luminar to product liability and other claims; strict government regulation that is subject to amendment, repeal or new interpretation and Luminar’s ability to comply with modified or new laws and regulations applying to its business; general economic uncertainty and the effect of general economic conditions on Luminar’s industry in particular, including the level of demand and financial performance of the autonomous vehicle industry and market adoption of lidar; the effects of the ongoing coronavirus (COVID-19) pandemic or other infectious diseases, health epidemics, pandemics and natural disasters on Luminar’s business; and the other risks discussed under “Item 1A. Risk Factors” in the annual report on Form 10-K filed by Luminar on April , 2021 and other documents Luminar files with the SEC in the future. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made and Luminar undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.