TuSimple co-founder blames CEO's salary and downgrade on autonomy for exit

TuSimple co-founder blames CEO’s salary and downgrade on autonomy for exit

TuSimple co-founder Xiaodi Hou denied allegations that the senior management was attempting to smuggle workers for his new firm. In a LinkedIn publish, Hou aforementioned He mentioned CEO Cheng Lu resigned from TuSimple’s board of administrators final week because of disagreements over the compensation package deal and the corporate’s transition from Stage 4 to Stage 2 autonomy.

“I consider the so-called investigation was a retaliation initiated by TuSimple’s President and CEO in response to my disagreements over a number of selections,” Hou wrote. LinkedIn post.

Yesterday TechCrunch reported that Hou resigned amid an inner investigation attempting to verify whether or not he had approached TuSimple staff about becoming a member of his new enterprise. TuSimple lay off Hou took over the publish of CEO, chairman, and CTO final 12 months after the board realized that TuSimple had handed confidential data to Hydron. The hydrogen-powered trucking enterprise is led by TuSimple co-founder and majority shareholder Mo Chen and backed by Chinese language traders.

Hou informed TechCrunch that he has not began one other enterprise, implying that accusing him of kidnapping workers is unreasonable.

“Current TuSimple staff who’re dissatisfied with the present management and course of the corporate attain out to me recurrently,” Hou wrote in a press release. “They got here to me as a result of we have been a household, and we nonetheless are. Over the previous few months, many staff have reached out to me for recommendation about their careers and modifications within the firm. Many have requested about my very own plans. In each engagement, I stayed true to my duties and duties as a supervisor.”

Hou accused TuSimple’s administration of cornering, harassing and threatening sure staff throughout their investigation.

Hou mentioned his resignation was partly because of present CEO Cheng Lu’s rejection of a “profitable” compensation package deal given to the chief a number of days after layoffs that worn out 25% of the corporate’s workforce.

in keeping with a filingLu receives a base wage of $450,000 per 12 months, an annual bonus of roughly $400,000, and housing advantages of $9,000 per thirty days. If Lu is fired for no purpose or there’s a change accountable for the corporate (such because the sale of the corporate), Lu receives $15 million.

In accordance with the information, Lu’s compensation and severance package deal was selected December 14, 2022. Lu, Hou, and Chen have been the one remaining board members after having fired everybody earlier than. A supply aware of the matter claimed that Lu and Chen modified the administration of the corporate to permit them to stop Hou from voting in opposition to Lu’s compensation package deal. The corporate’s new board members, Wendy Hayes and Michael Mosier, joined the board the subsequent day. We reached out to TuSimple to touch upon the supply’s declare.

Hou additionally mentioned he was overtly crucial of TuSimple’s “determination to shift the main target from degree 4 autonomous driving to degree 2 assisted driving”.

Stage 4 autonomy implies that the system could be self-driving beneath a set of particular situations (for instance, a geofenced space) with out the necessity for a human to take over. Stage 2 or superior driver help methods (ADAS) can carry out some automated duties corresponding to lane help, cruise management or emergency braking, however these require the human driver to retain many of the management over the automobile.

TuSimple has not publicly introduced its intention to maneuver from Stage 4 to Stage 2, however doing so will utterly change the corporate’s enterprise mannequin.

In December, TuSimple’s settlement with Navistar to collectively develop and manufacture purpose-built autonomous semi vehicles by 2024 failed, leaving TuSimple with no clear course for commercialization.

Lu denied to TechCrunch that TuSimple plans to shift its focus away from L4. He mentioned the corporate will quickly announce progress in autonomous area controller able to supporting L2 options. Lu additionally pointed to TuSimple’s Might 2022 analyst day presentation, which outlined the corporate’s purpose of manufacturing L2+ ADAS in partnership with Nvidia. He reiterated that TuSimple remains to be specializing in L4.

#TuSimple #cofounder #blames #CEOs #wage #downgrade #autonomy #exit

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