Nikola Promotes Michael Lohscheller To Succeed Mark Russell As President And CEO

Energy infrastructure firm Nikola Corp. (NKLA) announced Wednesday that Chief Executive Officer and President Mark Russell will retire, effective January 1, 2023. The company has promoted current Nikola Motor President Michael Lohscheller to succeed Russell.

Lohscheller will assume Russell's President title and join the Nikola Board of Directors effective immediately and become CEO upon Russell's retirement. Russell will remain a member of the Board.

Lohscheller, a 20-year global automotive industry veteran, has previously held a variety of high-ranking positions including EVP and CFO at Mitsubishi Motors Europe, EVP and CFO at Volkswagen Group of America, CEO at Opel Automobile GmbH and member of the Board at PSA Group and Global CEO of VinFast.

Lohscheller joined as President of Nikola Motor in February 2022. Prior to Nikola, he was CEO of Opel, where he led the company to sustainable profitability and oversaw its transformation into a leading electrified car brand.

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