Michael Lohscheller is a recent addition to Nikola Corp.
Photo:
Andreas Gebert/Bloomberg News
Nikola Corp.
NKLA 0.50%
on Wednesday said that Chief Executive
Mark Russell
was retiring and would be succeeded by Nikola Motor President
Michael Lohscheller.
Mr. Russell’s retirement goes into effect Jan. 1, which is when Mr. Lohscheller will be elevated to the top job.
Mr. Lohscheller is a recent addition to Nikola, having joined the electric-truck maker in February with a mandate to scale up the company’s global truck business. He had previously served as CEO of German auto maker Opel Automobile GmbH and oversaw its transformation into a leading electrified car brand.
Mr. Lohscheller will be named president of the company and join Nikola’s board immediately.
Shares rose 2.5% in premarket trading on Wednesday, while the company’s share price is off about 30% for the year.
Nikola CEO Mark Russell is retiring.
Photo:
Andreas Gebert/Bloomberg News
Write to Connor Hart at [email protected]
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