NKLA - Nikola announces CEO transition with Lohscheller to take over for the retiring Russell

Nikola Corporation ( NASDAQ: NKLA ) announced that Chief Executive Officer Mark Russell will retire from the company on January 1, 2023  to be replaced by current Nikola Motor President Michael Lohscheller.

Russell will remain a member of the board after he transitions from the CEO slot.

Lohscheller will assume Russell's President title and join the Nikola board of directors effective immediately. The exec joined as President of Nikola Motor in February of 2022 and is noted to have had a major impact in moving the Tre battery-electric vehicle  into series production and achieving development milestones for the Tre fuel cell electric vehicle . Prior to Nikola, he was CEO of Opel, where he led the company to sustainable profitability and oversaw its transformation into a leading electrified car brand.

Shares of Nikola ( NKLA ) rose 1.72% in premarket trading on Wednesday to $7.08 vs. the 52-week trading range of $4.43 to $15.56.

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