Professor Amnon Shashua, founder and Chief Executive of Mobileye Global, has informed the Board of Directors of his intention to step down upon the appointment of a successor, ending nearly 27 years at the helm. Mobileye’s Board will engage an executive search firm to select his replacement.

Following the appointment of a new Chief Executive, Professor Shashua has been offered the role of Chairman of the Board, focusing on long-term technology direction and the company’s humanoid robotics expansion. He will remain a director throughout the transition.

Professor Shashua founded Mobileye in Israel in 1999, building computer vision for automotive safety into a global standard now deployed across more than 250 million vehicles and 1,400 models worldwide. His tenure encompassed the company’s 2014 initial public offering, then the largest in Israeli history, the 2017 Intel acquisition, and a second public listing in 2022.

Safroadu Yeboah-Amankwah, Chairman of Mobileye’s Board of Directors, said the Board was confident in the company’s strategy and technology platform, and focused on selecting a leader for the next phase of growth. He also praised Shashua’s contribution to the autonomous driving industry.

Intel holds an approximately 77% beneficial stake in Mobileye. David Zinsner, Intel’s Executive Vice President and Chief Financial Officer, said Intel remained confident in Mobileye’s trajectory and looked forward to working with the incoming Chief Executive.

Source: Mobileye