Nikola’s chief executive Mark Russell will retire at the end of the year. This was announced by the same company that Russell will be replaced by Michael Lohscheller, former CEO of Opel, who joined Nikola in February.
Lohscheller will become president and immediately join the board of directors. President Steven Girsky said in a statement that Lohscheller had a significant impact on Nikola in his six months at the company, praising his “sense of urgency” and “accelerated decision-making.” “The selection of Michael Lohscheller represents the completion of a careful succession planning process by the Board of Directors,” said Girsky. “With over 20 years in the automotive industry, Michael has extensive experience as an experienced executive and highly skilled commercial operator.”