REE Automotive shares surge 10.21% intraday after appointing Hicham Abdessamad as chairman with software and mobility expertise.

REE Automotive surged 10.21% intraday following the announcement of Hicham Abdessamad’s appointment as Chairman of its Board, effective December 22, 2025. Abdessamad, previously Chairman and CEO of Hitachi America, brings expertise in software-defined vehicle technology, digital transformation, and global mobility innovation, aligning with REE’s strategic focus on software-driven platforms and data-centric solutions. The transition, which retains outgoing Chairman Carlton Rose as a board member, emphasizes continuity in leadership while reinforcing REE’s commitment to advancing its SDV architecture and autonomous driving capabilities. Investors likely interpreted the leadership change as a positive signal of strategic direction and operational credibility, bolstering confidence in the company’s long-term growth prospects.