Mobileye founder Shashua to hand over reins as CEO after almost three decades

Prof. Amnon Shashua, founder of Mobileye, announced his decision to step down as CEO after 27 years, once a successor is appointed. He will remain a director and has been offered the role of Chairman of the Board. Shashua stated, "For nearly three decades, Mobileye has been my life’s work. As the company continues to grow and mature, I believe this is the right moment to establish the leadership structure that will be best suited for Mobileye’s next chapter." He plans to focus on long-term technology development, particularly in humanoids, which he views as a significant innovation frontier. This transition occurs as Mobileye expands into humanoid robotics, following its $900 million acquisition of Mentee Robotics, also co-founded by Shashua. The company reported strong second-quarter revenue of $508 million but forecast a 5% to 6% drop for the third quarter, leading to a 15% share decline.