Electric truck maker Lordstown Motors Corp. said on Thursday it appointed Daniel Ninivaggi as its CEO with immediate effect.
The company’s founder and former CEO Steve Burns and CFO Julio Rodriguez resigned in June following the board’s conclusions from an internal investigation into claims made by short-seller Hindenburg Research.
In March, Lordstown’s shares slumped after Hindenburg disclosed that it had taken a short position on the stock, saying the company had misled investors.
Ninivaggi was the former CEO of Icahn Enterprises LP, controlled by activist investor Carl Icahn. While working for Icahn, Ninivaggi was Co-Chairman and Co-CEO of Federal Mogul Holdings Corp., an $8 billion supplier of powertrain, chassis, sealing, brake and other automotive components, prior to its sale to Tenneco Inc. in 2018.
