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The CEO of Cruise, a wholly owned subsidiary of General GM, is stepping down. The co-founder of Cruise will take over as interim CEO.
Ammann is the latest CEO of a company to step aside as the industry tries to meet unrealistic expectations about the future of cars. John Krafcik stepped down as CEO of the company after helping lead it since 2015.
Ammann left GM without providing a reason.
Ammann was leaving to pursue other opportunities, but GM didn't give a reason. A person for Cruise refused to give any more information.
Cruise was acquired by GM to speed up its self-driving car program. Ammann assumed the role of CEO of the company after he oversaw the acquisition.
He was in charge of the roll out of the Origin, the company's first purpose-built vehicle. The company raised enough investment to bring its valuation up to $19 billion, thanks to his leadership. He has a plan to increase Cruise's fleet to 1 million vehicles by the year 2030.
Ammann oversaw some setbacks, most notably the decision to delay the launch of arobotaxi in San Francisco. The company has yet to commit to a new date, but has implied it will be in 2022.
GM said in a statement that it is deeply committed to its vision of zero crashes, zero emissions, zero congestion, and AV technology will play a critical role in realizing it. Cruise has created significant value for both GM shareholders and Cruise's minority shareholders, as it has seized the leadership position in commercial self-driving cars.
