Mobileye CEO Steps Down Amid Weak Revenue Forecast
Amnon Shashua, founder and long-time CEO of Mobileye (NASDAQ: MBLY), has announced his decision to step down from the role. His departure comes at a pivotal time as the autonomous-driving technology firm is expanding into robotaxi services and robotics. The news was accompanied by a weaker-than-expected revenue forecast for Q3 2026, predicting a decline of between 5% and 6%. This caused Mobileye's shares to drop approximately 15%, marking their largest single-day fall since August 2024. Shashua has led the company through major milestones such as its $15.3 billion acquisition by Intel in 2017, followed by a public listing in 2022. Since then, Mobileye's stock price has fallen significantly due to inconsistent demand for its products and services. Shashua did not specify his reasons but stated it was the right time to establish new leadership suited for future growth. The transition will include Shashua taking on a role as chairman while remaining on the board of directors, allowing him to focus more on long-term technology development in areas like humanoid robotics. Mobileye recently acquired Mentee Robotics and is preparing to launch its U.S.-based robotaxi service next year.
Tickers: $MBLY
Topics: autonomous driving robotaxi robotics stock performance