Mark Russell, leader government officer of Nikola Corp., left, all the way through a media briefing on the unveiling of the Iveco-Nikola electrical truck plant in Ulm, Germany, on Wednesday, Sept. 15, 2021.
Andreas Grebert | Bloomberg | Getty Photographs
Nikola CEO Mark Russell will retire on the finish of the 12 months, the corporate introduced Wednesday.
Russell can be succeeded by way of Michael Lohscheller, previously CEO of German automaker Opel, who joined Nikola in February.
Lohscheller, who lately leads Nikola’s truck-making operation, will turn into the corporate’s president and sign up for its board of administrators in an instant.
Chairman Steven Girsky mentioned in a remark that Lohscheller has had an important affect on Nikola in his six months on the corporate, lauding his “sense of urgency” and “speeded up decision-making.”
“Michael Lohscheller’s variety represents the finishing touch of a considerate succession making plans procedure by way of the board of administrators,” Girsky mentioned. “With greater than twenty years within the car business, Michael has deep revel in as a seasoned government and as a extremely a professional industry operator.”
Michael Lohscheller, CEO of Nikola.
Courtesy: Nikola
Lohscheller’s profession has incorporated a variety of high-ranking positions in each finance and production. Amongst his previous roles: president and leader monetary officer of Mitsubishi’s Europe department; CFO of Volkswagen of The united states; and CEO of Opel and a member of Opel guardian PSA’s board of administrators.
Russell will retire with some essential achievements to his credit score. He took price of the corporate in an instant after founder Trevor Milton’s ouster in September 2020, streamlined its product plan, effectively led it to the beginning of manufacturing of the battery-electric Tre semi-truck, and received shareholder approval to factor new inventory over Milton’s objection.