Nov 10 (Businesshala) – Lordstown Motors (RIDE.O) on Wednesday appointed new executives, including a chief commercial officer, as the electric-vehicle startup ramped up efforts to bring its first pickup truck to market.
The company said Chief Operating Officer Jane Ritson-Parsons will also take on the newly created role of Chief Commercial Officer to guide Lordstown’s commercial strategy for its vehicles.
Lordstown also said longtime automotive industry executive Edward Hightower would take over as president effective November 29 from Rich Schmidt, who is stepping down. Hightower is currently Managing Director at Motoring Ventures and is already working with Lordstown in a consulting capacity.
Shea Burns, also an auto veteran and who has previously led multiple launches at Ford Motor Company (FN), will assume the role of Senior Vice President of Operations at Lordstown. The company said that Burns Endurance will support the launch of the pickup truck.
Lordstown had to reshuffle its management after founder and CEO Steve Burns and finance chief Julio Rodriguez resigned in June.
While the company has found a replacement, it’s still trying to get its first model, the Endurance Pickup, to market, a task that has been made more difficult by the company’s volatile financial situation and a storm of regulatory backlash and short-seller scrutiny. has been made. the feasibility of your ambitions.
Lordstown’s shares are down more than 70% this year. The company presented its third quarter results on Thursday. Analysts are expecting an update on the pickup truck.