Waymo CEO Krafcik Steps Down, Appoints Co-CEOs to Lead Autonomous Unit
John Krafcik steps down as CEO of Google's self-driving spinoff Waymo after five years, handing control to two co-CEOs. The leadership transition occurs as the company navigates technical hurdles and a significantly reduced market valuation.
John Krafcik steps down as CEO of Waymo, the self-driving car company spun out of Google, after more than five years in the role. He announces his departure in a blog post, citing a desire to take a refresh period and reconnect with family and friends as the world emerges from the pandemic. Despite leaving the top executive position, Krafcik remains an adviser to the company.
Two of Krafcik's top executives step up to replace him as co-CEOs. Dmitri Dolgov, a longtime autonomous vehicle engineer with Waymo since its early Google days, takes charge of the technology side. Tekedra Mawakana, Waymo's former chief operating officer and a lawyer by trade, handles the business operations of the company.
During Krafcik's tenure, Waymo establishes itself as a leader in the autonomous driving space and launches the first driverless ride-hailing service, Waymo One, in the Phoenix area. However, the company faces significant challenges, with its estimated market value dropping dramatically from $175 billion in 2018 to roughly $30 billion today. This steep decline reflects the immense difficulties of developing safe self-driving technology that shares the road with human-controlled vehicles.