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☆ Nikola CFO Anastasiya Pasterick to resign
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

The logo of Nikola is seen on a truck, during the press day preview of the Los Angeles Auto Show in Los Angeles, California, U.S. November 16, 2023. Pasterick was appointed to the role in March this year after the exit of Kim Brady, who was credited with taking Nikola public through a merger with a blank-check firm in 2020. The company expects to wrap up its search for a new CFO soon and Pasterick will assist with a transition through Dec. 1, it said. Key financial leaders will report to CEO Stephen Girsky in the interim. The news comes just months after Nikola named its fourth CEO in four years, with Girsky immediately taking over from Michael Lohscheller.

Persons: Nikola, David Swanson, NKLA.O, Anastasiya Pasterick, Pasterick, Kim Brady, Stephen Girsky, Girsky, Michael Lohscheller, Seher, Devika Organizations: Los Angeles Auto, REUTERS, Ford, Thomson Locations: Los Angeles , California, U.S, Bengaluru

☆ Nikola CFO to resign less than a year after joining
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

The logo of Nikola is seen on a truck, during the press day preview of the Los Angeles Auto Show in Los Angeles, California, U.S. November 16, 2023. REUTERS/David Swanson Acquire Licensing RightsNov 17 (Reuters) - Electric-truck maker Nikola (NKLA.O) said on Friday Chief Financial Officer Anastasiya Pasterick would resign to "pursue other opportunities" less than a year after joining the loss-making company. Pasterick was appointed to the role in March this year after the exit of Kim Brady, who was credited with taking Nikola public through a merger with a blank-check firm in 2020. The company expects to wrap up its search for a new CFO soon and Pasterick will assist with a transition through Dec. 1, it said. The news comes just months after Nikola named its fourth CEO in four years, with Girsky immediately taking over from Michael Lohscheller.

☆ Nikola recalls all battery-electric trucks, halts sales after fire probe
▼ + stars: | 2023-08-12 | by ( Mrinmay Dey | ) www.reuters.com time to read: +2 min

Logo of U.S. truckmaker Nikola is pictured at the IAA Transportation fair in Hanover, Germany, September 19, 2022. The company had said it suspected foul play when it started an investigation in June after trucks at its Phoenix, Arizona, headquarters caught fire. Struggling with supply chain bottlenecks and weaker demand, Nikola decided to make battery electric trucks only to order and focus on hydrogen fuel cell trucks. Nikola on Aug. 4 appointed Chairman Stephen Girsky, a former General Motors executive, as its chief executive, its fourth in four years. On Friday, Nikola asked customers and dealers of its Tre battery electric trucks to take certain immediate safety measures, including considering parking them outside.

Persons: Nikola, Fabian Bimmer, NKLA.O, Stephen Girsky, Shubhendu Deshmukh, Mrinmay Dey, Abhirup Roy, Sandra Maler, William Mallard, Raju Gopalakrishnan Organizations: IAA Transportation, REUTERS, Reuters, General Motors, Thomson Locations: Hanover, Germany, Phoenix , Arizona, Bengaluru, San Francisco

The maker of Tre model electric trucks has decided to make battery electric trucks only to order and focus on hydrogen fuel cell trucks. The company laid off 270 employees in June and liquidated assets of a recently acquired battery maker last month. Nikola forecast third-quarter revenue of $18 million to $28 million, compared with estimates of $34.5 million, according to Visible Alpha. Other electric vehicle (EV) startups also have toiled to ramp up production, meet delivery targets and raise funds as cash reserves dwindled. Separately, Nikola reported a narrower second-quarter loss as lower production of its Tre battery-electric trucks in the April-June period helped keep costs in check.

Persons: Stephen Girsky, Brendan McDermid, Nikola, NKLA.O, Michael Lohscheller, Girsky, Tre, Trevor Milton, Akash Sriram, Abhirup Roy, Will Dunham, Anil D'Silva, Sriraj Kalluvila, David Gregorio Our Organizations: VectolQ, Reuters, of Autonomous Vehicles, REUTERS, U.S, General Motors, Friday's, Nikola, Fisker, Thomson Locations: New York City, U.S, Phoenix, Bengaluru, San Francisco

Nikola's investors on Thursday approved a proposal that will allow the company to issue more shares. The maker of Tre model electric trucks has been trying to pivot to hydrogen fuel cell technology. Nikola forecast third-quarter revenue of $18 million to $28 million, compared with estimates of $34.5 million, according to Visible Alpha. It had cash and cash equivalents of $226.7 million at the end of the second quarter, compared with $441.8 million, a year earlier. The company laid off 270 employees in June and liquidated assets of a recently acquired battery maker last month.

Persons: Stephen Girsky, Brendan McDermid, Nikola, okayed, Michael Lohscheller, Girsky, Tre, Trevor Milton, Akash Sriram, Abhirup Roy, Anil D'Silva, Sriraj Kalluvila, David Gregorio Our Organizations: VectolQ, Reuters, of Autonomous Vehicles, REUTERS, General Motors, Thomson Locations: New York City, U.S, Bengaluru, San Francisco

REUTERS/Brendan McDermid/File photoAug 4 (Reuters) - Nikola (NKLA.O) on Friday named its fourth CEO in as many years as the electric truck maker navigates a host of challenges including dwindling cash reserves, lingering supply chain snags and a pivot to hydrogen fuel cell technology. The Tre battery-electric trucks maker forecast third-quarter revenue of $18 million to $28 million, compared with estimates of $34.5 million, according to Visible Alpha. Nikola's investors approved a proposal that will allow the truck maker to issue more shares to raise funds. Milton stepped down as CEO in 2020 after short-seller Hindenburg issued a scathing report that labeled Nikola a "fraud." Separately, Nikola reported a narrower second-quarter loss as lower production of its Tre battery-electric trucks in the April-June period helped keep costs in check.

Persons: Stephen Girsky, Brendan McDermid, Nikola, Michael Lohscheller, Trevor Milton, Milton, Hindenburg, Romeo Power, Akash Sriram, Anil D'Silva Organizations: VectolQ, Reuters, of Autonomous Vehicles, REUTERS, General Motors, EV, Lordstown Motors, Thomson Locations: New York City, U.S, Phoenix , Arizona, Bengaluru

☆ EV maker Nikola names fourth CEO in as many years
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

[1/2] Stephen Girsky, Managing Partner for VectolQ, speaks during a Reuters Newsmaker event on the Future of Autonomous Vehicles in New York City, U.S. June 20, 2017. REUTERS/Brendan McDermid/File photoCompanies Nikola Corp FollowAug 4 (Reuters) - Electric truck maker Nikola said on Friday that Michael Lohscheller will step down as chief executive officer less than a year after taking over the job and would be replaced by Stephen Girsky at the end of the month. Girsky, who is currently the company's chairman, will be Nikola's fourth CEO in as many years. Separately, Nikola reported a narrower second-quarter loss as lower production of its Tre battery-electric trucks in the April-June period helped keep costs in check. Reporting by Akash Sriram in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Stephen Girsky, Brendan McDermid, Nikola, Michael Lohscheller, Lohscheller, Akash Sriram, Anil D'Silva Organizations: VectolQ, Reuters, of Autonomous Vehicles, REUTERS, Nikola, Thomson Locations: New York City, U.S, Phoenix , Arizona, Europe, Bengaluru

☆ EV maker Nikola says CEO Lohscheller to step down
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

VinFast Global CEO Michael Lohscheller looks on during the Vietnamese car company's EV global premiere during the 2021 LA Auto Show in Los Angeles, California, U.S. November, 17, 2021. REUTERS/Mike Blake/File photoCompanies Nikola Corp FollowAug 4 (Reuters) - Electric truck maker Nikola said on Friday that Michael Lohscheller will step down as chief executive officer and would be replaced by Stephen Girsky at the end of the month. Separately, Nikola reported a narrower second-quarter loss as lower production of its Tre battery-electric trucks in the April-June period helped keep costs in check. Lohscheller has decided to step down due to a family health matter and will be returning to Europe, the company said, adding that he would remain in an advisory capacity through the end of September. Reporting by Akash Sriram in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Michael Lohscheller, Mike Blake, Nikola, Stephen Girsky, Lohscheller, Akash Sriram, Anil D'Silva Organizations: VinFast Global, EV, REUTERS, Nikola, Thomson Locations: Los Angeles , California, U.S, Europe, Bengaluru

☆ Nikola CEO is leaving the company after just 18 months
▼ + stars: | 2023-08-04 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

New York CNN —The president and chief executive of Nikola, the Arizona-based electric and hydrogen semi truck manufacturer, is leaving the company effective immediately, the company announced Friday. Michael Lohscheller is leaving the company so that he can return to Europe to focus on a family health emergency, the company said. Lohscheller’s predecessor, Mark Russell, also stayed in the CEO role for less than 18 months, meaning Girsky is the company’s fourth CEO in as many years. He became president of Nikola in March 2022, and took over the CEO role in November of last year. During his time as president and CEO, Nikola focused its business more tightly on the US market.

Persons: Nikola, Michael Lohscheller, Stephen Girsky, Mark Russell, Trevor Milton, Milton, Nikola’s, Lohscheller hadn’t, Lohscheller, Loscheller, ” Organizations: New, New York CNN, General Motors, Prosecutors, Volkswagen Group, Volkswagen USA, Nikola, VinFast Locations: New York, Arizona, Europe, Nikola, United States

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