Electrical truck maker Nikola Corp. mentioned on Friday that Michael Lohscheller will step unwell as CEO not up to a life later taking on the activity and would get replaced by way of business veteran Stephen Girsky on the finish of the date.
Stocks of the Phoenix, Ariz.-based corporate fell about 9 p.c in buying and selling earlier than the bell.
Girsky, 61, who’s lately the corporate’s chairman, shall be Nikola’s fourth CEO in as a few years. His appointment comes as the corporate turns its focal point to fuel-cell-powered electrical vehicles. Girsky served various roles at Normal Motors from 2009 to 2014, together with a stint as vice president.