The company’s “leader in electric light-duty trucks” is looking for a new CEO.
Lordstown Motors has been leaking more teasers than ever, renderings and prototypes are all more subtle than the production vehicles. It’s likely that Lordstown Motors isn’t keeping its promises from the past few years. Even though Lordstown Motors’ latest press release boasts that it is “a leader” in electric light-duty trucks for the commercial fleet market, this latest statement may hint at deeper problems.
Automaker announced recent changes to its executive management team, with Julio Rodriguez and Steve Burns resigning as Chief Executive Officers and Chief Financial Officers, respectively. Lordstown states that the changes take effect immediately and has reached out to an executive search firm in order to find permanent replacements. Angela Strand, the company’s Lead Independent director, will temporarily assume the role of Executive Chairwoman. Her sole purpose is to oversee the transition of the company until a permanent CEO has been appointed. The changes were necessary because of the transition from the early production phase to commercial production phase.
David Hamamoto (member of the board), comments that Lordstown Motors had achieved important milestones in the development of the Lordstown Endurance, an all-electric pickup truck. We are grateful to Steve Burns, for his dedication and passion for the company. We have to establish a solid management team that has extensive experience in leading and operating publicly-traded OEM companies. This will allow us to transition to the commercial phase of our business. Limited production is expected to begin in September. Angela and Becky and the expanded leadership team have our complete trust to guide us through this transition period.