Electric truck maker Nikola Corp. said on Friday that Michael Lohscheller will step down as CEO less than a year after taking over the job and would be replaced by industry veteran Stephen Girsky at the end of the month.
Shares of the Phoenix, Ariz.-based company fell about 9 percent in trading before the bell.
Girsky, 61, who is currently the company’s chairman, will be Nikola’s fourth CEO in as many years. His appointment comes as the company turns its focus to fuel-cell-powered electric trucks. Girsky served a variety of roles at General Motors from 2009 to 2014, including a stint as vice chairman.
