QuantumScape Corporation, a leader in solid-state lithium-metal battery technology, announced the appointment of Dr. Siva Sivaram as its new Chief Executive Officer (CEO) and board member, effective February 15, 2024. Dr. Sivaram, who joined the company as President in September 2023, succeeds co-founder Jagdeep Singh, who will continue as Chairman of the Board. The transition is part of a planned succession process initiated by Singh and the Board over a year ago. Dr. Sivaram brings extensive experience in scaling complex technologies for high-volume production, having previously served as President of Technology and Strategy at Western Digital. His appointment comes as QuantumScape prepares for the next phase of growth, following significant milestones such as the development of their A0 prototype cell...Show More

QuantumScape Corporation, a leader in solid-state lithium-metal battery technology, announced the appointment of Dr. Siva Sivaram as its new Chief Executive Officer (CEO) and board member, effective February 15, 2024. Dr. Sivaram, who joined the company as President in September 2023, succeeds co-founder Jagdeep Singh, who will continue as Chairman of the Board. The transition is part of a planned succession process initiated by Singh and the Board over a year ago. Dr. Sivaram brings extensive experience in scaling complex technologies for high-volume production, having previously served as President of Technology and Strategy at Western Digital. His appointment comes as QuantumScape prepares for the next phase of growth, following significant milestones such as the development of their A0 prototype cell. In conjunction with his new role, Dr. Sivaram's compensation package includes an annual base salary of $820,000, eligibility for a 125% target bonus of his 2024 earned salary, and a restricted stock unit award valued at $17,206,000. Singh, who has led the company since its inception in 2010, will no longer receive compensation as CEO after February 15, 2024, but will retain his equity awards and continue to serve without additional compensation for his role as Chairman.