Nikola Corporation has announced that company founder Trevor Milton is to step down as Executive Chairman and from the Board. Stephen Girsky, former Vice Chairman of General Motors Co. and a member of Nikola’s Board, has been appointed Chairman of the Board.
Since its float on the NASDAQ, Nikola has been hit by allegations that it misled investors and automakers over its technology.
Milton says: “Nikola is truly in my blood and always will be, and the focus should be on the Company and its world-changing mission, not me,” said Milton. “So I made the difficult decision to approach the Board and volunteer to step aside as Executive Chairman. Founding Nikola and growing it into a company that will change transportation for the better and help protect our world’s climate has been an incredible honor.”
He adds: “As we move forward, I am confident Steve is the right leader to guide our vision at the Board level. In addition to being an early believer and supporter of Nikola, Steve has more than 30 years of experience working with OEM leaders, suppliers, dealers, labor leaders and national policy makers, and has served as a director of numerous public companies.”
Mark Russell, Nikola’s Chief Executive Officer, comments: “Along with the rest of the management team, I will continue to work closely with Steve and the Board to advance Nikola’s vision for the future. Our priorities remain unchanged and, in collaboration with our partners, we are laser-focused on executing on our strategic initiatives and laying the groundwork to become a vertically integrated zero-emissions transportation solutions provider.”
Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona.
Keyword: Nikola Founder Trevor Milton Steps Down as Executive Chairman: Leaves Board