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OFFON

LORDSTOWN MOTORS CORP.

(RIDE)
  Report
Delayed Quote. Delayed Nasdaq - 11/26 01:00:01 pm
4.76 USD   -3.05%
11/16INSIDER SELL : Lordstown Motors
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11/15NEWS HIGHLIGHTS : Top Global Markets News of the Day
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11/12Tech Advances Amid Rotation Back Into Growth Sectors -- Tech Roundup
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Electric-truck maker Lordstown Motors appoints Adam Kroll as CFO

10/13/2021 | 08:41am EST
FILE PHOTO: A Lordstown Motors sign is seen outside the Lordstown Assembly Plant

Oct 13 (Reuters) - Electric-truck maker Lordstown Motors Corp named Adam Kroll as chief financial officer, months after the departure of former CEO and finance chief following an internal investigation into claims made by a short-seller.

Kroll, who has previously served as an investment banker at JP Morgan with a focus on the automotive industry, will assume his new role on Oct. 25. He replaces interim CFO Rebecca Roof, who will stay on in a transition role through Dec. 31.

Lordstown and fellow EV maker Nikola, both of which went public via acquisitions by special-purpose acquisition companies (SPAC), have become a target of short-seller Hindenburg. Both saw their founders subsequently resign.

In June, Lordstown founder and CEO Steve Burns and CFO Julio Rodriguez resigned. The resignations had come as the company's board reported conclusions from an internal investigation into claims made by short-seller Hindenburg.

Lordstown still faces a lot of scrutiny from federal prosecutors in Manhattan and the U.S. Securities and Exchange Commission related to its merger with a SPAC, and statements it previously made about pre-orders for its vehicles.

The company in August, filled the first of the two vacant C-suite positions by appointing Daniel Ninivaggi as CEO, handing over the reins to the former employee of investor Carl Icahn, who had said his focus will be on making sure Lordstown successfully rolls out its pickup trucks in the face of intense regulatory scrutiny.

Kroll, 46, most recently served as chief administrative officer for Hyzon Motors, which has also been a target of short-seller Blue Orca in recent weeks. The company has, however, rejected the short-seller's report, saying it was inaccurate and misleading.

Shares of the company, which is doubling down its efforts to roll out its first pickup truck, were up 1.2% on Wednesday. They have slumped about 75% this year. (Reporting by Subrat Patnaik and Eva Mathews in Bengaluru; Editing by Anil D'Silva and Shinjini Ganguli)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HYZON MOTORS INC. -0.74% 8.07 Delayed Quote.-23.87%
LORDSTOWN MOTORS CORP. -3.05% 4.76 Delayed Quote.-76.27%
NIKOLA CORPORATION -1.88% 10.46 Delayed Quote.-31.45%
All news about LORDSTOWN MOTORS CORP.
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Analyst Recommendations on LORDSTOWN MOTORS CORP.
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Financials (USD)
Sales 2021 - - -
Net income 2021 -461 M - -
Net Debt 2021 22,2 M - -
P/E ratio 2021 -1,84x
Yield 2021 -
Capitalization 915 M 915 M -
EV / Sales 2021 -
EV / Sales 2022 4,47x
Nbr of Employees 320
Free-Float 67,6%
Chart LORDSTOWN MOTORS CORP.
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Lordstown Motors Corp. Technical Analysis Chart | RIDE | US54405Q1004 | MarketScreener
Technical analysis trends LORDSTOWN MOTORS CORP.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 8
Last Close Price 4,76 $
Average target price 3,86 $
Spread / Average Target -19,0%
EPS Revisions
Managers and Directors
Daniel A. Ninivaggi Chief Executive Officer & Director
Adam B. Kroll Executive VP, Chief Financial & Accounting Officer
Angela Strand Boydston Non-Executive Chairman
Darren C. Post Vice President-Engineering
Shea Burns Senior Vice President-Operations
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1st jan.Capi. (M$)
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