Waymo’s chief technology officer and its chief operating officer will serve as co-CEOs.
Krafcik will be replaced by two Waymo executives, Chief Technology Officer Dmitri Dolgov and Chief Operating Officer Tekedra Mawakana, who will head the firm as co-CEOs. However, Krafcik will stay on as an advisor.
Before joining Waymo, Krafcik headed the Hyundai Motor North America unit as the CEO.
In a blog post on Friday, Krafcik said, “After five-and-a-half exhilarating years leading this team, I’ve decided to depart from my CEO role with Waymo and kick-off new adventures.”
He said that he would be going on a sabbatical with his wife and relocating to Austin, Texas, from Silicon Valley.
Why It Matters: The change comes as Waymo is working on autonomous-driving technology for future ride-hailing and delivery services.
Under Krafcik’s leadership, the company launched a limited ride-hailing service in suburban Phoenix. Krafcik led Waymo’s conversion into an independent subsidiary and raised $3.25 billion of external funding.
Waymo was formed in 2009 as a project within Alphabet’s Google unit. Its autonomous cars have driven tens of billions of miles on US roads.