Lordstown appoints Main Business Officer, other executives in administration rejig

(Reuters) – Lordstown Motors appointed new executives, like a Main Commercial Officer, on Wednesday, as the electric-car or truck startup ramps up initiatives to carry its to start with pickup truck to the industry.

The corporation claimed Chief Running Officer Jane Ritson-Parsons will also take on the freshly developed role of Main Commercial Officer to build Lordstown’s industrial tactic for its vehicles.

Lordstown also reported lengthy-time automotive sector executive Edward Hightower will acquire more than as President, successful Nov. 29, from Loaded Schmidt, who is stepping down. Hightower is at this time Managing Director at Motoring Ventures and has already been functioning with Lordstown in a consulting capacity.

Shea Burns, also an autos veteran and who has beforehand led a number of launches at Ford Motor Co, will think the function of Senior Vice President of Functions at Lordstown. The company mentioned Burns will lend assistance for the launch of the Stamina pickup truck.

Lordstown has experienced to rejig its management after founder and Main Govt Officer Steve Burns and finance main Julio Rodriguez resigned in June.

When the organization has because uncovered replacements, it is still trying to get its initially model, the Stamina pickup, to the industry, a activity produced far more hard by the firm’s shaky economic position and a storm of regulatory backlash and shorter-seller scrutiny on the viability of its ambitions.

Lordstown shares have dropped extra than 70% this calendar year. The company stories 3rd-quarter success on Thursday. Analysts anticipate an update on the pickup truck.

(Reporting by Akash Sriram and Eva Mathews in Bengaluru Editing by Krishna Chandra Eluri)