Joby Aviation CFO resigns

California-based electric aircraft developer Joby Aviation announced that Matthew Field, the company’s chief financial officer, will be resigning effective December 13, 2024.

Following Field’s departure, CEO JoeBen Bevirt will assume the role of acting principal financial officer, while Sergei Novikov, the company’s controller, will serve as acting principal accounting officer and treasurer.

Novikov, who has been with Joby since June 2021, brings a wealth of experience in accounting and finance. Prior to joining Joby, he held a senior position at Varian Medical Systems and began his career at Price Waterhouse.

Joby Aviation has stated that Field has agreed to provide advisory services during the transition period. The finance team will report to Bevirt and Kate DeHoff, the company’s general counsel and corporate secretary, until a permanent CFO is appointed.

Joby Aviation shares fell over 9% in after-hours trading following the announcement.

The company cited Field’s intention to remain closer to his family in mid-west US as the key reason behind his decision.

Joby recently bagged $500m from Toyota to develop its aircraft. The company also secured a $50m loan from Citibank further its aircraft research and development programme.