Nikola CEO Russell plans to depart, replaced by insider Lohscheller
by Bloomberg Aug 10, 2022
Nikola Corp. said Chief Executive Officer Mark Russell will step down at the end of the year and be replaced by an executive who joined the electric-truck maker earlier this year.
Russell will remain on the board following his Jan. 1 departure, the company said Wednesday in a statement. Michael Lohscheller, who was named president of Nikola Motor in February, will join the board immediately and take over as CEO when Russell vacates the role.
Shares of Phoenix-based Nikola rose 2.6% as of 8:15 a.m. before regular trading in New York. The stock fell 29% this year through Tuesday’s close.
Bloomberg
© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).
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