Redwood Materials loses COO amid layoffs, restructuring

Redwood Materials loses COO and several VPs as battery recycler restructures after layoffs | Contesto: cronaca

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• Redwood Materials loses COO amid layoffs, restructuring

Contesto

Redwood Materials, the battery recycling startup founded by Tesla co-founder JB Straubel, is undergoing a significant leadership shakeup as its chief operating officer, Chris Lister, retires and at least three other vice presidents depart amid a broader restructuring, TechCrunch has learned. Lister, a former Tesla executive who joined Redwood in 2021, oversaw the company’s manufacturing and supply chain operations. His departure comes as the company has implemented layoffs in recent weeks, part of a strategic pivot to streamline operations and focus on core recycling and materials production. The three other VPs who have left the company include leaders in engineering, business development, and operations, though their specific future plans remain unclear. The restructuring reflects Redwood’s effort to adapt to a shifting market for electric vehicle batteries. While demand for EVs continues to grow, battery material prices have fluctuated, and the recycling industry faces pressure to reduce costs. Redwood, which has raised over $2 billion from investors including Amazon, Ford, and Goldman Sachs, has been scaling its facilities in Nevada and South Carolina to process end-of-life batteries and scrap from battery manufacturers. Redwood’s leadership changes come as the company navigates the transition from a startup to a large-scale industrial operator. Lister, who previously spent over a decade at Tesla leading battery and powertrain production, was instrumental in building Redwood’s manufacturing infrastructure. His retirement, along with the VP departures, could signal a new phase of management as the company seeks leaders with experience in high-volume, low-cost production. The company has not publicly commented on the specific departures or the number of employees affected by the layoffs. However, sources familiar with the matter say the cuts were concentrated in non-core areas as Redwood refocuses on its primary mission: closing the loop on battery materials by supplying recycled lithium, nickel, cobalt, and copper back to battery manufacturers and automakers. The shakeup raises questions about how Redwood will maintain its ambitious timeline for scaling...

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Categoria: cronaca