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Monday, 14 June 2021 17:12

Lordstown Motors CEO, CFO Resign

Written by Mark Kane, Inside EVs

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Lordstown Motors announced June 14 several changes to its executive management team---officially, because the "company begins to transition from the R&D and early production phase to the commercial production phase of its business."

We guess it's rather because the situation is quite challenging and requires fast and possibly radical moves to secure financing for operation beyond 2021.

 

Anyway, Lordstown Motors' two top executives---CEO Steve Burns and CFO Julio Rodriguez---"resigned" from the company.

 

They will be replaced temporarily by Lead Independent Director Angela Strand, appointed executive chairwoman, and Becky Roof, appointed interim CFO, until a permanent CEO and CFO will be appointed.

 

It's another sign it's not a planned move and the company did not have a new CEO and CFO ready for the transition.

 

Lordstown Motors listed also a few more positions in its augmented executive team:

 

Rich Schmidt, president, will continue to oversee all day-to-day operations, including manufacturing and engineering. Schmidt was promoted to president in November, having previously served as Lordstown’s chief production officer. He has more than 30 years of automotive industry expertise, including experiences at Toyota and Nissan, Hyundai, Volkswagen, J.D. Power and Tesla Motors.

 

Jane Ritson-Parsons, formerly interim chief brand officer, has been appointed COO. Ritson-Parsons is a highly experienced senior global executive with demonstrated leadership and revenue building success with a successful track record, most recently at Hasbro Inc as group executive, global marketing.

 

Carter Driscoll, formerly head of investor relations, has been promoted to...


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