TMTPOST breaking news | San Francisco. November 11th. This Friday, Faraday Future (FF) issued an official statement via its WeChat Official Account, announcing that it had decided to terminate the employment with its CFO Stefan Krause.
According to FF’s official statement, since Mr. Stefan joined FF this march, he “not only didn’t contribute much to the company, but instead severely damaged the interests of FF and its investors”. Therefore, FF accused Mr. Stefan of “delinquency, dereliction, and even violation of law”, and will “maintain the right to take legal actions against him”. In the interim, Pascal Coustar will take over and handle the financial management temporarily.
After accusing Mr. Stefan of hindering the company’s fundraising efforts and blaming almost everything on Mr. Stefan, FF picked up the confidence coming from nowhere and stated that it would “expedite the fundraising process and make sure there was enough fund soon”.
However, Krause himself actually resigned last month, according to Jalopnik.
“The truth is that I resigned from Faraday Future on October 14, effective immediately,” Krause said. “The company’s statement inaccurately portrays the circumstances surrounding my departure, and includes baseless and defamatory statements about me and my contributions to the company.”
Besides, multiple sources have told Jalopnik that “Krause has managed to bring investors to the table with serious offers this year, but they were contingent on Jia Yueting relinquishing control of the company”.
Krause, a 30-year veteran in finance executive positions at BMW and Deutsche Bank, joined Faraday in March, with the main task of “courting new investors and raising $1 billion for the startup”.
At the same time, FF also decided to determinate the employment relations with its new CTO Ulrich Kranz, who just joined FF three months ago.
“Ulrich Kranz has only been appointed in this role for over three months and hist termination wouldn’t affect the R&D process and product development at FF,” FF promised to its investors.
At the end of the statement, FF again picked up its old trick and appealed to emotions:
“Since its establishment four years ago, Faraday Future has recruited and cultivated world-class research & development and management teams, mastered industry-leading proprietary technology, and created revolutionary products. Going forward, Faraday Future, together with all our employees and partners, will stay committed to our goal of revolutionizing the 100-year-old automobile industry by creating a next-generation of smart and Internet-based mobility ecosystem and bringing unique values to our users.”
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Translated by Levin Feng (Senior Translator at PAGE TO PAGE), working for TMTpost.