Nikola Jumps After Hiring General Motors, Dell Veteran Mary Chan [BNN Bloomberg (Canada)]
Nikola Corporation (NKLA)
Company Research
Source: BNN Bloomberg
The hire comes a month after Nikola Chairman Steve Girsky, another GM veteran, inserted himself as chief executive officer in an attempt to turn the troubled electric trucking company around. Nikola shares gained 32% to $1.57 at 1:36 p.m. in New York trading. The jump pared the stock's year-to-date decline to 27%. The Phoenix-based company is in the midst of a recall for its battery-electric big rigs after one caught fire in June, causing damage to nearby trucks. Two other trucks have caught fire since, with the problem being linked to a component in the battery packs, according to Nikola. Sales have been temporarily halted. Chan will move into the role starting Oct. 9. She isn't coming to the company cold, though, as she was a managing partner at VectoIQ, the firm that helped take Nikola public in 2020. Chan served as president of the Global Connected Consumer group at GM and also oversaw Enterprise Mobility Solutions & Services at Dell. According to a company statement, Cha
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