Mobileye beats estimates, hunts for CEO as founder departs

July 23 : Mobileye Global founder Amnon Shashua plans to step down as chief executive officer after the appointment of a successor, the autonomous driving technology maker said on Thursday, as it reported second-quarter results that topped Wall Street estimates. Mobileye said its board would hire an executive search firm and conduct a comprehensive process to select a new CEO. Shashua will remain a director and has been offered the role of chairman once a successor is appointed.The Israeli company also reported second-quarter revenue of $508 million, beating analysts' estimates of $481.24 million, according to LSEG data. The ADAS hardware maker's shares were up about 8 per cent in premarket trading. Mobileye said demand for next-generation ADAS remains strong, highlighting a new high-volum