(Reuters) -Electric-vehicle startup Lordstown Motors Corp said on Tuesday Edward Hightower will take over the additional role of chief executive officer after Daniel Ninivaggi stepped down with immediate effect.
Ninivaggi will serve as the executive chairman of the board and focus on corporate strategy, capital raising and strategic partnerships, the company said.
Ninivaggi joined Lordstown in August 2021, taking over from Steve Burns who left the automaker after the company’s board reported conclusions from an internal investigation into claims made by short-seller Hindenburg. (https://reut.rs/3NYElV2)
Lordstown in May completed a deal to sell certain assets to Taiwanese contract manufacturer Foxconn, clinching funds essential for the production of its Endurance electric pickup truck.
(Reporting by Akash Sriram in Bengaluru; Editing by Krishna Chandra Eluri and Shounak Dasgupta)
