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Lucid names auto industry outsider as CEO, expands Uber deal

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Lucid names auto industry outsider as CEO, expands Uber deal

Lucid electric vehicles are seen at the New York International Auto Show on April 2, 2026.

Danielle DeVries | CNBC

Lucid Group has named the former chairman and CEO of Schindler Group, an industrial manufacturer of escalators and elevators, as its new chief executive.

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Silvio Napoli, who spent nearly 31 years at Schindler, is set to become the all-electric vehicle maker’s second CEO following the abrupt departure of Lucid founder Peter Rawlinson in February 2025.

Interim CEO Marc Winterhoff will remain with the company as its chief operating officer once Napoli takes the reins, according to Lucid. A company spokesman said Napoli is expected to begin as CEO in the coming weeks, pending completion of his relocation from Switzerland and U.S. visa process.

Shares of Lucid fell roughly 5% in midday trading, as the company also announced expanded investments Tuesday of $750 million from an affiliate of Saudi Arabia’s Public Investment Fund — its largest shareholder — and Uber Technologies.

Inside Lucid’s high-stakes turnaround plan

The latter is an expansion of a previously announced tie-up with Uber that includes the ride-hailing company investing another $200 million in Lucid. Uber has also agreed to purchase at least 35,000 Lucid vehicles designed exclusively for use as part of Uber’s future global robotaxi service. That’s up from $300 million and 20,00 vehicles announced in July.

The PIF-backed investment is $550 million, according to Lucid.

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The selection of Napoli, who also serves on the board of American-Irish multinational power management company Eaton Corp., marks a stark change in direction for Lucid from automotive veterans Rawlinson and Winterhoff.

The company said Napoli’s “deep operational expertise, financial discipline, and track record of leadership in innovation” would position Lucid for its future growth plans, including upcoming midsize EVs and new autonomy initiatives.

“His expertise in capital allocation, operational efficiency and translating advanced technology into consistent high-quality performance over time will be critical as Lucid continues to scale and execute its strategy,” Lucid Chairman Turqi Alnowaiser said in a statement.

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Treasury chief says US growth may exceed 3% or 3.5% this year despite Iran war

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Treasury chief says US growth may exceed 3% or 3.5% this year despite Iran war


Treasury chief says US growth may exceed 3% or 3.5% this year despite Iran war

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Why Every Fitness-Related Business Needs a Fitness App

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The Information Commissioner’s Office (ICO) is issuing a reminder to all app developers regarding the paramount importance of safeguarding users’ privacy, following its examination of period and fertility apps.

Over the past decade, the fitness industry has changed dramatically. As the use of smartphones has proliferated, the fitness industry has evolved to offer greater personalization and convenience. As such, fitness apps are becoming an industry standard, and are a necessity for trainers, gyms, and wellness brands.

The demand for digital fitness solutions has been evidenced by the 3.6 billion health and fitness app downloads recently recorded. The fitness industry has to integrate mobile solutions for their businesses, or risk being left behind.

This paper will discuss the topics fitness businesses need to consider when developing their own fitness app.

Growing Demand for Digital Fitness Solutions

The fitness landscape has changed. Most fitness enthusiasts prefer to have flexibility and choose when to work out, and where to work out from (the gym, the outdoors, home, etc.). Fitness apps have been developed to offer on-demand workouts, as well as the ability to track progress and offer handy health insights.

The convenience mobile fitness solutions offer has vastly improved their popularity. Fitness businesses that develop mobile apps will also have improved business as the app will allow the business to interact and cater to customers when they are not physically inside the gym.

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Improved Member Engagement and Retention

The greatest challenge for trainers and gyms is maintaining the interest of their customers. Fitness apps can offer solutions for maintaining user interest, because they include highly interactive and motivational features.

Some engagement aspects include

  • Community-based challenges and leaderboards
  • Personalized workout plans
  • Progress tracking dashboards
  • Push notifications and reminders

All tools help maintain motivation and accountability. Personal workout plans and reminders help users adopt a more active lifestyle and not break their routine. This leads to more consistency in tracking goals.

This translates to fitness businesses increasing customer lifetime value and retention, not to mention whole communities in the business ecosystem.

Custom made fitness and training programs

Consumers today are accustomed to receiving services that are tailored specifically to them. Fitness-focused apps are able to achieve this by using specialized data to create custom workout programs that are based on the user’s individual activity levels and goals.

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Everyone wins with this level of personalization:

  • Fit users obtain training programs that are appropriate to their fitness level
  • Fitness trainers able to track more clients at the same time
  • Clients receive more attention as their needs are being met

Digital tools and systems are what create these levels of personalization that were previously unattainable. Trainers are able to use these tools to scale their services to more clients while still making services feel more individualized.

Streamlined Business Operations

Fitness apps help business owners with all of these aspects in today’s market – business owners can spend more time working with their clients and less time designing booking arrangements.

For example, a fitness app could facilitate member:

  • Holiday bookings
  • Gym schedule checks
  • Announcements and updates
  • Membership management

This functionality means less time managing bookings and more time attending to the customer.

Innovative Revenue Streams

Gyms and fitness professionals can now sell their services digitally as fitness apps develop revenue opportunities. Businesses can sell digital services aside from in-person gym memberships.

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  • Premium workout plans
  • Online coaching
  • Fitness classes
  • Training plans that require monthly payments

With these services, fitness businesses can sell outside their area and even internationally.

To achieve this, many companies invest in custom applications for the fitness industry that are specifically designed for gyms, trainers, and wellness brands. With custom apps, businesses can add specific features targeted to their audience and services.

Deepening Brand Presence

Brand presence can also be strengthened through custom mobile apps. Businesses can take better ownership of the brand experience with their app as opposed to controlling it through social media and secondary platforms.

Some benefits of mobile-brand fitness apps are:

  • Better access to customers
  • Better access to the brand
  • Better image of the brand
  • Better experience of the brand

Interaction through the app provides customers fitness brand business loyalty during the interaction.

Industry Competitiveness

Businesses should utilize digital tools as fitness businesses are entering the global fitness industry.

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Fitness apps enable businesses to:

  • Offer hybrid fitness models
  • Engage with tech-savvy consumers
  • Implement data-driven coaching
  • Anticipate industry innovations

The demand for dedicated fitness apps will only increase as consumers manage their health and wellness via mobile devices.

Conclusion

The integration of mobile devices with fitness has resulted in flexible and personalized fitness experiences that fit into consumers’ routines.

For fitness-related businesses, mobile apps are a required investment to foster customer loyalty, and drive revenue growth. The investment will empower gyms and trainers to deliver innovative fitness experiences, differentiate themselves and remain relevant in a changing industry.

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Japan manufacturers’ confidence dips most in three years on Middle East concerns: Reuters Poll

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Japan manufacturers’ confidence dips most in three years on Middle East concerns: Reuters Poll


Japan manufacturers’ confidence dips most in three years on Middle East concerns: Reuters Poll

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Kraft Heinz Vs. Mondelez: Same Roots, Diverging Trajectories

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Kraft Heinz Vs. Mondelez: Same Roots, Diverging Trajectories

Kraft Heinz Vs. Mondelez: Same Roots, Diverging Trajectories

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Help to Buy mostly helped high earners, IFS says

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Help to Buy mostly helped high earners, IFS says

People with lower incomes benefitted less from the house-buying scheme than those with high incomes, the influential think tank says.

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Humanoid robot chases wild boars in viral video

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Humanoid robot chases wild boars in viral video

A humanoid robot known as Edward Warchocki was captured on video chasing a group of wild boars in Warsaw, Poland, in a bizarre encounter that has quickly gained traction online.

Video of the incident shows the robot moving toward a small group of boars gathered near the roadside, prompting the animals to scatter and retreat as the machine advances.

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The brief clip highlights the unusual sight of a human-like machine confronting wildlife in an urban setting.

Edward Warchocki is a humanoid robot with an online presence in Poland, where it appears in public-facing content and social media videos, according to its official website.

ELON MUSK SAYS TESLA WILL LIKELY SELL HUMANOID ROBOTS BY END OF NEXT YEAR

Humanoid robot chases wild boars in Warsaw video

A humanoid robot named Edward Warchocki chases wild boars off a Warsaw street in a viral video, highlighting the growing role of robots in real-world settings. (Credit: Edward Warchocki via Reuters / Reuters Photos)

The robot has drawn attention for interacting with people in everyday environments, contributing to its growing popularity online.

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Wild boars are a known issue in parts of Warsaw and other Polish cities, where they frequently wander into residential neighborhoods and busy streets in search of food. The European country has also held annual culls since 2019 in an effort to curb the threat of African Swine Fever, which threatens the pork industry, according to the Max Planck Institute for the History of Science.

Encounters between humans and the animals are not uncommon, though the involvement of a humanoid robot adds a new and unexpected twist.

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Humanoid robot chases wild boars in Warsaw video

A humanoid robot named Edward Warchocki chases wild boars off a Warsaw street in a viral video, highlighting the growing role of robots in real-world settings. (Credit: Edward Warchocki via Reuters / Reuters Photos)

The unusual moment comes as humanoid robots are increasingly moving beyond controlled demonstrations and into real-world environments.

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Recent examples have shown humanoid robots performing complex movements such as maintaining balance and executing flips, assisting travelers in public spaces like airports and being developed for large-scale manufacturing as companies push toward mass production, as previously reported by Fox News Digital.

Some companies are also working on AI-powered humanoid systems designed for industrial use, signaling a broader shift toward integrating the technology into everyday settings.

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Humanoid robot chases wild boars in Warsaw video

A humanoid robot named Edward Warchocki chases wild boars off a Warsaw street in a viral video, highlighting the growing role of robots in real-world settings. (Credit: Edward Warchocki via Reuters / Reuters Photos)

While most of these robots are still being tested or deployed in structured environments, the Warsaw video offers a glimpse of how such machines may begin to intersect with unpredictable situations in daily life.

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The clip has drawn widespread attention across social media, with viewers expressing a mix of amusement and curiosity.

“Wild animals must not be intimidated, because they can attack humans. If no one scares them, they don’t care about humans. I have a lot of them on my estate, and they don’t respond to people,” one Instagram user wrote.

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Another added, “This is a historical event. Glad to live in the time when this represents Poland,” while a third commented, “Bravo Edward.”

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Fox News Digital’s Kurt Knutsson contributed to this report.

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Form 13G Ocugen For: 14 April

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Form 13G Ocugen For: 14 April

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Meghan Markle Kicks Off Australia Tour with Prince Harry as ‘Call Me Meg’ Moment Sparks Debate

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Nancy Guthrie & Savannah Guthrie

MELBOURNE, Australia — Meghan Markle arrived in Australia on Tuesday with Prince Harry for a four-day tour focused on mental health, community support and veterans’ issues, telling well-wishers to “call me Meg” as the couple navigated their first visit Down Under since stepping back from royal duties.

Meghan Markle
Meghan Markle
IBTimes US

The Duke and Duchess of Sussex touched down in Melbourne, launching engagements that included a visit to the Royal Children’s Hospital and interactions with local communities. Markle, dressed casually yet polished, engaged warmly with hospital patients and staff, drawing smiles from young patients and their families. One seven-year-old boy later claimed he met “a real princess,” delighting onlookers and highlighting the couple’s enduring public fascination.

The tour, described by some as a “faux royal” itinerary, blends philanthropic work with paid speaking appearances. Stops are planned in Melbourne, Sydney and possibly Canberra, centering on issues close to the couple’s hearts through their Archewell Foundation. Harry, known for his Invictus Games advocacy, is expected to address veterans, while Markle is set to host an event in Sydney emphasizing women’s support and community resilience.

Security for the visit has ignited controversy, with experts estimating Australian taxpayers could foot tens or hundreds of thousands of dollars for police and public safety operations despite the couple’s assurances that the tour itself is privately funded. A security specialist told local media the logistics of protecting high-profile visitors in multiple cities carry significant costs, reigniting debates over public funding for non-working royals.

Markle’s approachable style stood out during the hospital visit. She reportedly shrugged off formal titles, encouraging Australians to address her informally as “Meg,” a nod to her pre-royal identity as an American actress. The moment, captured on video and widely shared, drew mixed reactions — some praised her relatability, while critics viewed it as another attempt to craft a post-royal persona.

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The Australia trip comes amid a busy period for the Sussexes. In March, the couple announced an expanded slate of private, business and philanthropic duties for 2026, raising eyebrows at Buckingham Palace according to reports. The announcement signaled their intent to maintain a global profile independent of the British royal family while pursuing commercial opportunities.

On the entertainment front, Markle and Harry’s Archewell Productions continues developing projects across streaming platforms. Their Netflix relationship persists under a renewed first-look deal, with multiple TV, film and documentary ideas in the pipeline. “With Love, Meghan,” Markle’s lifestyle series featuring recipes, hosting tips and personal insights, saw its second season premiere earlier in 2026. Netflix executives have confirmed ongoing collaborations, including potential romance adaptations and polo-themed programming.

Markle’s lifestyle brand “As Ever” has also gained traction, blending her interests in food, gardening and wellness. Recent public appearances, including a Montecito event hosted by Netflix chief Ted Sarandos, showed her networking with Hollywood insiders. Photos of Markle sharing an affectionate moment with Sarandos’ wife, Nicole Avant, surfaced recently, prompting speculation about her efforts to strengthen industry ties after some project adjustments.

The couple’s Hollywood endeavors have faced scrutiny. While some projects like the documentary “Cookie Queens” received positive festival reception, analysts note challenges in translating royal fame into sustained entertainment success. Insiders describe a mix of scripted and non-fiction programming under development, but fewer public-facing releases in 2026 compared to previous years. Rumors of Netflix tensions were downplayed by the couple and the streamer, with both sides affirming a continued professional relationship.

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Markle has also leaned into fashion and cultural moments. She recently embraced one of spring 2026’s popular color trends during a red-carpet appearance, drawing praise for her Old Hollywood glamour. Her style choices often spark trends, from casual Montecito looks to more polished event ensembles. However, not all coverage has been positive; some reports highlighted her absence from the 2026 Met Gala guest list, with insiders citing shifting Hollywood dynamics.

The Australia tour has divided public opinion. Supporters see it as meaningful advocacy work, particularly around mental health and veterans — causes amplified by Harry’s military background and the couple’s shared experiences. Critics, including some Australian commentators, predict a cooler reception, suggesting fatigue with the Sussex narrative after years of high-profile media moments and family tensions.

Back in California, the couple balances family life with their two young children, Archie and Lilibet, who are not joining the Australia trip. Markle has occasionally shared glimpses of family moments, including Easter videos, while maintaining a relatively private home life in Montecito. Reports of occasional clashes in social settings, such as a recent event involving actress Carey Mulligan, have fueled tabloid speculation but remain unconfirmed by the couple.

Philanthropy remains central. Archewell continues initiatives in mental health, community support and social impact. The couple’s pivot to more independent duties in 2026 reflects a strategic effort to build sustainable platforms beyond royal associations. Yet challenges persist, including legal matters tied to Harry’s former charity Sentebale and broader questions about public perception.

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Media coverage of the tour has been intense, with Australian outlets providing live updates and global tabloids analyzing every gesture. Harry’s occasional appearance in a supportive role has led some observers to comment on dynamics within the marriage, though the couple projects unity in public.

As the tour progresses, expectations include more hospital visits, community engagements and potential speaking events. Markle’s ability to connect with everyday people — from children at the hospital to women’s shelter visitors — could shape the narrative of this trip. Her “call me Meg” remark may become a defining soundbite, symbolizing her post-royal reinvention.

Broader context includes ongoing interest in the couple’s separation from the British monarchy. Palace sources have remained largely silent on the Australia visit, consistent with their hands-off approach since 2020. The tour underscores the Sussexes’ commitment to global causes while navigating life as private citizens with significant public profiles.

For Markle, the trip offers a chance to showcase her advocacy and personal brand on an international stage. Whether it revitalizes interest in her projects or reignites debates over relevance remains to be seen. As engagements unfold in Melbourne and beyond, the world watches to see how the Duchess of Sussex balances informality with impact.

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The four-day itinerary wraps up later this week, with potential reflections from the couple on lessons learned and future plans. In the meantime, their presence has injected energy into local discussions on mental health awareness and community support.

Markle’s journey from Suits actress to duchess to independent global figure continues to captivate audiences. This Australia tour adds another chapter, blending humanitarian work with the inevitable spotlight that follows one of the world’s most discussed women.

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Why Finding the 84-Year-Old Remains So Elusive After 73 Days?

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Nancy Guthrie

TUCSON, Ariz. — More than two months after Nancy Guthrie vanished from her Catalina Foothills home, authorities and experts continue to grapple with a baffling kidnapping case that has produced surveillance footage, blood evidence, potential DNA leads and mysterious ransom notes — yet no arrest, no suspect identification and no confirmed trace of the 84-year-old mother of “Today” show co-host Savannah Guthrie.

Nancy Guthrie
Nancy Guthrie

Guthrie was last seen Jan. 31, 2026, after returning home from dinner at her daughter Annie’s house. She was reported missing Feb. 1 when she failed to appear at church. Investigators quickly concluded she was taken against her will after finding drops of her blood on the front porch and reviewing doorbell camera footage showing a masked individual with a flashlight in his mouth deliberately covering the lens with a nearby shrub.

The case has drawn intense national attention, a $1 million family reward and FBI involvement offering up to $100,000 for information leading to her recovery or the arrest of those responsible. Yet as of mid-April 2026, more than 70 days later, the investigation remains at a frustrating standstill with no public suspects named and no proof of life.

Experts point to several factors making the search exceptionally difficult. The abduction occurred in the pre-dawn hours in a relatively remote, upscale neighborhood where homes sit on larger lots, limiting immediate witnesses. The masked suspect’s careful actions — obscuring the camera and wearing gloves — minimized visible forensic traces inside the residence, though blood outside confirmed violence. A glove found nearby matching the suspect’s appeared promising but has not yet yielded a breakthrough identification.

Genetic genealogist CeCe Moore emphasized the potential of saliva on the flashlight the suspect held in his mouth, urging investigators to prioritize that evidence for advanced DNA analysis. Retired detectives have speculated two to four accomplices may have been involved, citing the planning required to target a specific home that is not easily visible from the street. The sheriff has described the crime as targeted and indicated authorities believe they understand the motive, though details remain undisclosed.

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The absence of a clear ransom demand from the actual kidnappers has complicated matters further. Early purported ransom notes demanded millions in Bitcoin, but subsequent anonymous communications sent to media outlets like TMZ have raised skepticism. Recent notes received around April 6 claimed Guthrie was dead in one message, then alive in Sonora, Mexico, in a follow-up — inconsistencies that former FBI agents described as highly unusual and potentially the work of scammers seeking cryptocurrency rather than genuine kidnappers.

One ex-FBI agent theorized the notes could be opportunistic exploitation of a real crime rather than direct communication from perpetrators. The lack of direct contact with the family or verifiable proof of life has left investigators and the public questioning their authenticity while diverting resources toward verification.

Guthrie’s age and health profile add layers of urgency and challenge. She has mobility issues and requires daily medication, including management via a pacemaker whose computer was reportedly disconnected. Without prompt medical care, her survival window narrows significantly, heightening fears as weeks turn into months. Experts note that abductions of elderly victims are statistically rare, and cases involving cross-border possibilities — such as hints of Mexico — expand the search area dramatically while complicating jurisdiction and cooperation.

Pima County Sheriff Chris Nanos has faced criticism over the pace of the investigation, including a no-confidence vote from deputies and questions about departmental leadership. Searches have included ground, air and neighborhood canvassing, with tens of thousands of tips received. The FBI has assisted extensively, yet public updates have been limited to protect the integrity of the probe. Some analysts point to possible early investigative missteps, including delays in processing certain evidence, as contributing to the ongoing difficulty in generating leads.

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The high-profile nature of the case — tied to Savannah Guthrie’s celebrity — has brought both advantages and drawbacks. Massive media coverage has generated widespread awareness and tips, yet it may have also encouraged hoax communications and armchair speculation that clutter genuine leads. Savannah Guthrie returned to the “Today” show April 6 after a two-month absence, expressing continued hope while the family offered the substantial reward. She has made emotional pleas, including statements that the family would pay any legitimate ransom.

Retribution has emerged as one theory among profilers, with some suggesting the targeting could stem from perceived connections or grudges rather than random opportunity or financial gain. A “Mindhunter”-style expert highlighted that the deliberate, low-forensic approach points to someone familiar with law enforcement tactics or motivated by personal vendetta. The remote location and lack of immediate neighbors who saw or heard suspicious activity further hinder timeline reconstruction.

Cross-border elements, including unverified claims of sightings in Mexico, introduce logistical nightmares. Cooperation with Mexican authorities, language barriers, vast desert terrain and different law enforcement priorities slow progress. Historical cases show that once a victim is moved across borders, recovery rates drop sharply, especially without rapid action in the first 48 hours — a window long since closed here.

Technological hurdles also play a role. While doorbell footage provided a crucial visual, the suspect’s masking and the home’s security setup did not capture interior activity or a clear getaway vehicle with identifiable plates. Phone records, vehicle data and construction worker or neighbor interviews have been pursued, but no public breakthroughs reported. Advanced DNA tools, including genetic genealogy, offer hope if quality samples exist, yet processing backlogs and the need for matches in databases can take time.

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The family has remained cooperative, according to officials, while privately enduring unimaginable anguish. Savannah Guthrie’s public statements balance hope with realism, urging anyone with information to come forward regardless of their involvement. Community vigils and searches in the Tucson area have continued, but as days accumulate without resolution, frustration grows.

Broader context reveals why such cases prove stubbornly difficult. Most kidnappings involve younger victims with clearer motives like ransom or custody disputes. Elderly stranger abductions without immediate demands are outliers, often requiring exhaustive review of the victim’s and family’s background for any overlooked connections. Here, the combination of a cautious perpetrator, possible accomplices, potential international angle and media-driven noise creates a perfect storm of investigative obstacles.

Authorities continue to treat the case as active and urge tips through the FBI at 1-800-CALL-FBI or online. The $1 million reward remains in place for information leading to Nancy Guthrie’s safe return or the perpetrators’ apprehension.

For now, the question lingers: why is it so hard to find her? A masked suspect who left minimal traces, an elderly victim with urgent health needs, shifting and questionable ransom claims, vast search terrain and the inherent complexities of a targeted nighttime abduction have converged to create one of the most challenging missing persons cases in recent memory.

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As the investigation enters its third month, experts stress that breakthroughs often come from seemingly small tips or advances in forensic technology. The Guthrie family and law enforcement persist in their efforts, holding onto hope that Nancy will be found and the mystery resolved. Until then, the desert community and a watching nation continue to ask: Where is Nancy Guthrie?

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FAW post record revenues and the cost World Cup qualification failure

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With strong levels of reinvestment into the game it posted losses for its 2024/25 financial year

A sea of Wales fans in a football stadium

Welsh football fans.(Image: Getty Images)

The Football Association of Wales (FAW) has posted record revenues but with high levels of reinvestment back into the game has slipped into the red on profit.

The FAW said the failure of the men’s national team, to qualify for the World Cup this summer – although it never budgets for tournament qualification – had resulted in the loss of a projected net positive impact for the governing body of at least £1m, rising to £1.5m if Craig Bellamy’s team had qualified out of the tournament’s group stage. This would have ratcheted up the further the team progressed.

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Due to the higher logistical cost with the tournament being played across the US, Canada and Mexico, most participating nations are forecasting a smaller profit margin than in previous tournaments.

READ MORE: Work under way on the UK’s first nuclear small modular reactors in North WalesREAD MORE: Plans still of track for Wales’ first dedicated museum of contemporary art

For the last World Cup in Qatar, and qualifying for two European Championships, the distribution of proceeds for Wales was roughly equally split between player and management payments, logistics with the remainder going to the governing body for reinvestment.

For its financial year to the end of June, 2025, the FAW saw revenues rise 27% to £40.5m, compared £32.36m a year earlier.

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The FAW continued to benefit from funding from football governing bodies, the UK Government and Sports Wales. Funding from governing bodies was up from £6.86m a year earlier to £9.49m, with backing from the UK Government’s Department for Culture Media and Sport, up from £4.26m to £7.6m.

The FAW has secured far more investment from government sources than the WRU in recent years – outside of the Cardiff Bay administration refinancing a Covid loan for the WRU (recently refinanced again with HSBC and Goldman Sachs), which at one stage had an eye-watering interest rate of more than 8%.

Other revenue lines for the FAW in its last financial year saw match and league income up from £5.16m, to £5.95m, sponsorship up from £3.21m to £3.37m and TV and radio up from £2.06m to £2.54m.

Following investment it posted net losses after tax of £3.4m, compared to a profit of just over £1m a year earlier.

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At year end it had a cash position of £10m and £8.6m in its investment fund.

The fund having been managed by HSBC, is now managed in two separate pots by Brewin Dolphin and Sarasin. At year end, having sold down its HSBC portfolio, it had only deployed a new mandate with Brewin Dolphin.

However, in July Sarasin took up its investment mandate of around £8.5m.

With the FAW increasing its headcount during the year from 164 to 180 its staffing costs increased by £1.3m to £9.1m. The highest paid director was its chief executive Noel Mooney with a total remuneration, including contributions to his defined pension, of £305,945, up just over £4,000 on the previous year.

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FAW chief finance and operations officer John Young said: “The disappointment of the men’s national Team not reaching the World Cup is still fresh in all our minds, but our financial results and strategic investments position us for long-term success in future tournaments.

“Our commitment to balancing the requirements of high performance on the pitch with sustainable growth, innovation and inclusivity will ensure Welsh football continues to thrive.

“The organisation recognises that operational losses are not viable over the long term but believes that, given the strength of our balance sheet, continued investment is justified to strengthen our domestic league, provide our national teams with the best possible opportunity for tournament qualification and success and to support the growth of the grassroots game.

“Management will continue to balance financial discipline with strategic investment to support both immediate sporting objectives and the organisation’s longer-term financial sustainability.”

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The FAW is currently consulting with stakeholders on a new 10-year strategy which will run until 2036.

Carol Bell, chair of its finance, audit and risk committee, said: “The FAW has been able to continue to invest in the game in Wales and deliver on its Ein Cymru/Our Wales strategy thanks to the strength of its balance sheet, long term vision and the commitment of its partners in both Welsh and UK government.

“Investment in women’s football in Wales, for example, was a major plank in this strategy and during FY25 our national team qualified to play in its first major tournament in Switzerland which took place just after the year end.

“We are well positioned for the future with a disciplined approach to investment, risk management and financial sustainability.”

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Mr Mooney said: “We have more than doubled the revenues of FAW in just five years. Shortly, we will launch a new 10-year strategy to map out the path to sustainable success through to 2036.

“We have grown participation from 90,000 to 120,000 over the past four years and we will now set our sights on growing participation further to 160,000 players alongside attracting more match officials, more coaches and more volunteers to be part of our football family in Wales.

“This is a time of investment for us. For the first time, we have invested heavily in the domestic game to grow football here and, next season, as we move to 16 teams, will be very exciting.

“Building the Adran Premier strategy is also under way to grow the women’s domestic top league.

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“Across Wales, we are investing in badly needed facilities, both at elite and grassroots level, to ensure we can grow the game for many years to come.

“Our men’s national team are looking forward to competing in Nations League A this autumn and our women’s national team are focused on returning to Nations League A on the back of our first ever major tournament in Switzerland last summer.

“We are currently reviewing the resources required to deliver our new strategy in the most efficient, effective and sustainable manner leading to an even brighter future for Welsh football.”

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