Lordstown Motors has announced that both its CEO, Steve Burns, and CFO, Julio Rodriguez, have resigned, with Steve Burns even stepping down from the company’s board of directors.
Lordstown Motors has been dedicated to launching the first-ever consumer vehicle equipped with hub motors, called the Endurance, which is unprecedented in the market.
Last year, Lordstown went public through a SPAC merger and its stock price skyrocketed to $4 billion at one point. The company claimed to have garnered more than 100,000 orders for the Endurance, but after being exposed for falsified orders and facing investigations, the CEO announced his resignation.
Currently, Angela Strand, an independent board member of Lordstown Motors, who previously worked at the electric vehicle startup Workhorse before Burns, has taken over as CEO, and Becky Roof has taken over as interim CFO.
🔗Source: electrek
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