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Some Faraday Future employees call for removal of Chairman Sue Swenson

Some Faraday Future employees have called on the electric vehicle startup’s board and shareholders to remove Executive Chairman Susan Swenson, according to a letter seen by Reuters.

Representatives of a group of about 140 employees alleged in the August 23 letter that Swenson orchestrated efforts to “push the company into bankruptcy and restructuring.”

Swenson did not respond to a request for comment, while Faraday Future declined to comment.

The group also asked the board to make public the findings from the ongoing investigation into multiple whistleblower letters involving four directors – Sue Swenson, Jordan Vogel, Scott Vogel and Brian Krolicki. The directors did not immediately respond to requests for comment.

FF Top Holdings, California-based Faraday’s largest shareholder with a 36% stake, told Reuters it received the letter but declined to comment further.

Faraday Future and FF Top were embroiled in a dispute over an investor’s request to remove former Chairman Brian Krolicki from the board of directors, citing that it did not fit the needs of the company.

FF Top said in an application last week that it requested “several books and records” for the purposes of one or more pre-contemplation referendums.

Faraday Future has faced high costs and supply chain disruptions that have delayed production of its FF 91 luxury electric vehicle to Q4 2022. The company’s stock has fallen about 90%. since listing through a reverse merger with the company shortlisted last July.

The company also delayed filing its quarterly report last year and said it had set up a special committee to look into allegations of inaccurate disclosure, including claims by short sellers. J Capital.

In February, Faraday Future said the review identified certain inaccurate statements made by employees to investors and announced changes to management, including the appointment of Swenson into the newly created executive chairman position.

(Reporting by Akash Sriram in Bengaluru; Editing by Ben Klayman and Devika Syamnath)

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