Nikola CEO Michael Lohscheller, Company's Fourth in As Many Years, Steps Down

Nikola Chief Executive Michael Lohscheller, an auto industry veteran, has stepped down due to a family health matter, and Nikola Chairman Steve Girsky has taken over as CEO of the electric-vehicle maker. From a report Girsky is Nikola's fourth CEO in almost as many years after the 2020 departure of Nikola founder Trevor Milton, who was later convicted of defrauding investors. Lohscheller, who took over as CEO of Nikola earlier this year, previously served as chief financial officer and then CEO of German automaker Opel, now owned by Stellantis. Before that, he was CFO of Volkswagen's U.S. business. Nikola credited Lohscheller with reducing the company's cash burn and improving production capabilities. Girsky previously served as CEO of the special-purpose acquisition company that merged with Nikola and took the company public in 2020. He previously served as vice chairman of General Motors. From 2005 to 2006, he was special adviser to the CEO and CFO of GM.

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