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Jerusalem-based Mobileye Global Inc. announced on Monday that board member Christine Pambianchi will be stepping down from her position effective April 25, 2025. Pambianchi’s departure is tied to her resignation as executive vice president and chief people officer at Intel Corporation (NASDAQ:INTC), which holds a controlling interest in Mobileye. The company, currently valued at $12.2 billion, has seen its stock decline by 54% over the past year, according to InvestingPro data.
According to the SEC filing dated April 2, 2025, Pambianchi’s decision to leave the board was not due to any disagreements with Mobileye regarding the company’s operations, policies, or practices. The announcement was made public through an 8-K filing with the Securities and Exchange Commission on Thursday.
Mobileye, a company specializing in prepackaged software and known for its advanced driver-assistance systems, is traded on the Nasdaq Global Select Market under the ticker symbol (NASDAQ:MBLY). The company has been a significant player in the autonomous driving and vehicle safety sector.
The filing did not indicate who would replace Pambianchi on the board or whether Intel would nominate a new director to fill the vacancy. The news comes as Mobileye continues to navigate the competitive landscape of the autonomous driving industry.
This report is based on a press release statement and the details provided in the 8-K filing with the Securities and Exchange Commission.
In other recent news, Mobileye N.V. has made significant strides with several developments. The company announced a major design win for its Surround Advanced Driver Assistance Systems (ADAS) with the Volkswagen (ETR:VOWG_p) Group, which is projected to generate approximately $300 million in future revenue, according to Raymond (NSE:RYMD) James. This design win marks a pivotal achievement, showcasing Mobileye’s potential in the ADAS market. Meanwhile, UBS has maintained a Neutral rating on Mobileye’s stock with a $17 price target, following the same announcement with Volkswagen, reflecting cautious optimism about the company’s growth prospects.
Additionally, Mobileye’s partnership with Lyft (NASDAQ:LYFT) will see the introduction of autonomous robotaxis in Dallas by 2026, a move that aligns with broader industry trends toward self-driving technology. JPMorgan has raised Mobileye’s stock target to $11, maintaining an Underweight rating, as it anticipates modest revenue contributions from this partnership starting in 2026. In a strategic investment move, Steven Cohen’s Point72 Asset Management has acquired a 5% stake in Mobileye, signaling confidence in the company’s future prospects. These recent developments highlight Mobileye’s expanding role in the automotive industry’s transition to advanced safety and automation technologies.
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