Business

Lordstown Motors executive resigns after board investigation

Lordstown MotorsElectric car companies fighting for survival follow CEO Steve Burns and CEO Julio on Monday following findings from an investor report questioning the company’s viability・ Announced the resignation of Rodriguez.

The resignation came into effect immediately, and Lordstown hired an executive search company to find a replacement for them.

The company announced the results of a special committee survey in March report According to Hindenburg Research, which aimed at Lordstown immediately after it was released in October last year. The Commission has determined that the report is “false and misleading” because it relates to the feasibility of Lordstown’s technology and the timeline of vehicle deployment. Nevertheless, it was found that the investigation identified “problems with the accuracy of certain statements regarding company pre-orders.”

Lordstown warned that it did last week Not enough cash to start commercial production You may need to close the electric pickup truck and its doors.

The company appointed its chief independent director, Angela Strand, as chairman until it hired a permanent chief executive officer. Becky Roof will be the Interim Chief Financial Officer.

After the news was released, Lordstown shares plunged nearly 12% in pre-market trading.

Lordstown Motors executive resigns after board investigation

Source link Lordstown Motors executive resigns after board investigation

Back to top button