TheTrucker.com

Electric truck maker Nikola names former General Motors executive Stephen Girsky as CEO

Reading Time: < 1 minute
Electric truck maker Nikola names former General Motors executive Stephen Girsky as CEO
Stephen J. Girsky, vice chairman of General Motors, attends the New York International Auto Show in New York, April 20, 2011. In a statement released Friday, Aug. 4, 2023, electric and hydrogen-powered heavy truck maker Nikola Corp. has named board Chairman Girsky as its new CEO. (AP Photo/Richard Drew, File)

DETROIT — Electric and hydrogen-powered heavy truck maker Nikola Corp. has named board Chairman Stephen Girsky as its new CEO.

The former General Motors executive and auto industry analyst replaces Michael Lohscheller, who will step down immediately as CEO, and as a board member on Aug. 31.

The Phoenix-based company says in a statement Friday that Lohscheller made the decision due to a family health matter and will return to Europe. He will stay on in an advisory capacity through September.

Girsky will remain on the board and will be replaced as chairman by director Steve Shindler.

Girsky will lead a startup that is struggling to reach profitability. The company on Friday reported a second-quarter net loss of $217.8 million, 26% larger than the same period a year ago.

But the company said in a statement that sales and production are growing and it is well on the way to executing its business plan and becoming profitable. Nikola said it has nearly doubled its unrestricted cash and has reduced spending.

The Associated Press Logo

The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. The Trucker Media Group is subscriber of The Associated Press has been granted the license to use this content on TheTrucker.com and The Trucker newspaper in accordance with its Content License Agreement with The Associated Press.

Avatar for The Associated Press
The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. The Trucker Media Group is subscriber of The Associated Press has been granted the license to use this content on TheTrucker.com and The Trucker newspaper in accordance with its Content License Agreement with The Associated Press.
For over 30 years, the objective of The Trucker editorial team has been to produce content focused on truck drivers that is relevant, objective and engaging. After reading this article, feel free to leave a comment about this article or the topics covered in this article for the author or the other readers to enjoy. Let them know what you think! We always enjoy hearing from our readers.

COMMENT ON THIS ARTICLE