Michael Lohscheller has made the decision to step down from his role as president and CEO of Nikola Corp. with immediate effect, as announced by the electric truck manufacturer based in Phoenix. This news had a significant impact on the company’s stock prices, causing them to drop notably.
The reason cited for Lohscheller’s departure from Nikola is a family health concern, which necessitates his return to Europe. In a statement, Lohscheller expressed his gratitude for the opportunity to lead Nikola and collaborate with dedicated colleagues who are wholeheartedly committed to propelling the company’s prominence in the realm of emission-free transportation. Despite his departure, Lohscheller holds unwavering confidence in Nikola’s future prospects.
To succeed Lohscheller, Steve Girsky will be assuming the position. Girsky, a former executive at General Motors, has held the role of Nikola’s board chair since September 2020. Notably, this marks the fourth change in CEO leadership for the company within the span of four years.
Steve Girsky’s background includes his role as managing partner of VectoIQ, LLC, an independent advisory firm headquartered in New York. He previously held the positions of president and CEO at VectoIQ Acquisition Corp. and fulfilled various responsibilities at General Motors Corp., including the roles of vice chairman and special advisor to the company’s CEO and CFO.
Lohscheller’s involvement with Nikola began when he assumed the role of president in February 2022, subsequently taking on the position of CEO in January. This transition occurred following the retirement of the former CEO, Mark Russell, from the company.