Nikola's Fourth CEO In 4 Years Doubles Up As Acting CFO For Troubled EV Truck Maker
Portfolio Pulse from Anan Ashraf
Nikola Corp. (NASDAQ:NKLA) has appointed its CEO, Stephen Girsky, as the acting CFO, effective Feb. 14, without additional compensation. This follows a series of leadership changes, with Girsky being the fourth CEO in four years and succeeding the CFO who resigned in November. Nikola faces financial challenges, with significant losses reported in the third quarter. The company's share price has declined nearly 70% over the past year.
February 22, 2024 | 7:29 am
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Nikola Corp. appoints CEO Stephen Girsky as acting CFO, marking another leadership change. The company faces financial challenges, with significant losses reported in Q3.
The appointment of the CEO as acting CFO highlights ongoing leadership instability and financial challenges at Nikola. The significant losses reported in Q3 and the nearly 70% decline in share price over the past year are likely to negatively impact investor confidence and the stock price in the short term.
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IMPORTANCE 90
RELEVANCE 100