Amnon Shashua to step down as Mobileye CEO

Israeli auto-tech company Mobileye Global Inc (Nasdaq: MBLY) CEO Prof. Amnon Shashua has informed the board that he will step down as soon as his successor is appointed. He will continue to serve on the board of directors and has been offered the role of chairman but has not taken a final decision on the matter.

Shashua’s decision came at the same time as the company released its second quarter financials, showing a narrower GAAP-based loss, and raised its 2026 guidance. The company’s share price is down nearly 16%.

Mobileye will use a management consulting firm to find a replacement, and the company’s announcement notes that this is a planned transition that reflects the next stage in Mobileye’s development.

Shashua (65) founded Mobileye with Ziv Aviram in 1999 and has served as a director since then. He has served as CEO since Intel acquired Mobileye in 2017 for $15.3 billion and delisted it from Wall Street. In 2022, the company was re-issued on the Nasdaq at a valuation of $17 billion, and today its market cap is $7.4 billion, after losing 58% of its value since the most recent IPO.

Shashua holds 7.3% of Mobileye shares as of the last annual reporting date, which are worth about $156 million.

Earlier this year, Mobileye acquired robotics company Mentee, of which Shashua is a co-founder and shareholder.

Moving from CEO to chairman is a fairly common move on Wall Street, as was done in previous years by other Israeli former CEOs – Gil Shwed at Check Point and Udi Mokady at CyberArk (which was later sold to Palo Alto).

“My Life’s Work”

Shashua said, “For nearly three decades, Mobileye has been my life’s work. As the company continues to grow and mature, I believe this is the right moment to establish the leadership structure that will be best suited for Mobileye’s next chapter. I remain deeply committed to Mobileye’s success and am excited about the opportunities ahead, particularly in advanced AI, autonomous systems, and humanoid robotics. I look forward to supporting the Board and leadership team throughout the transition process and continuing to contribute to the areas where I can have the greatest long-term impact.”

“Exceptional Leadership”

Mobileye chairman Safroadu Yeboah-Amankwah said, “On behalf of the Board, I want to express our deep appreciation to Amnon for his extraordinary leadership as Mobileye’s founder and CEO. A true technology leader and innovator, Amnon has helped shape not just Mobileye but has also played a defining role in the evolution of the modern driver-assistance and autonomous-driving industry. He’s one of the great technologists in the areas of ADAS, AI, and robotics and has kept us on the technological edge. We are grateful for Amnon’s continued commitment to the company as we ensure a seamless transition.”

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He added, “We are confident in Mobileye’s strategy, leadership team, technology platform, customer relationships, and long-term opportunities. As we take the next step in succession planning, we are focused on selecting the right leader who will help us deliver our next phase of growth.”

Meanwhile, Mobileye released its second quarter financials today. Quarterly revenue was $508 million, almost unchanged from the $506 million in the corresponding quarter of 2025, but the company considerably narrowed its loss. The operating loss fell form $74 million to $30 million, while adjusted operating profit rose from $106 million to $155 million. The company’s net loss narrowed from $67 million to $21 million, and the loss per share fell from $0.08 to $0.03. The company raised its revenue and profit guidance for 2026.

Mobileye explained that “Revenue of $508 million is relatively flat compared to the second quarter of 2025, primarily due to a 3% increase in volumes of systems shipped coming from higher customer demand, offset by lower EyeQ ASP mainly attributable to higher-than-expected China OEM export volumes. Gross Margin as well as Adjusted Gross Margin decreased in the second quarter of 2026 as compared to the prior year period. This was due to a modest reduction in EyeQ ASP mainly attributable to higher China OEM volumes which carry lower ASP and a higher portion of SuperVision related revenue with lower margin given the greater hardware content included.”

For 2026 as a whole, Mobileye now expects revenue of $1.97-2.02 billion, which compares with previous guidance of $1.935-2.015 billion, and it predicts improvement in profitability and further narrowing of its operating loss.

The company says that the improvement in its guidance mainly stems from the new R&D Law in Israel, which was enacted during the second quarter but which applies retroactively from the beginning of the year. Under the law, Mobileye recognized a grant in the second quarter that reduced its R&D expense, and it believes that the law will continue to have a positive impact on its results for the rest of the year.

On the business side, the company reports that ‘Preparations for commercial robotaxi services with the Volkswagen Group company MOIA continued on-track throughout the quarter. MOIA just recently began public user testing in Hamburg, Germany with safety drivers in vehicles equipped with Mobileye’s self-driving-system.” Mobileye is also accelerating the introduction of autonomous transport as a service. “We are engaged with potential vendors for vehicle platform supply, self-driving-system installation and upfit, and fleet logistics support. We have accelerated Moovit’s execution of customer-facing app, fleet optimization, and rider engagement applications,” the company said. It also reported a “high-volume Cloud-Enhanced ADAS design win with Stellantis this quarter,” adding “Gross profit per unit for this program is roughly equivalent to Surround ADAS and more than double our current average base ADAS profitability.”

Published by Globes, Israel business news – en.globes.co.il – on July 23, 2026.

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