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Nikola's Founder Is Out

1 month ago   |   By

Trevor Milton, the founder of electric truck start-up Nikola, has stepped down from his roles as executive chairman and board member at the company, Nikola announced this morning. Milton said that Nikola is “truly in my blood.”
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Nikola dives 28% after founder Trevor Milton steps down as executive chairman

Nikola dives 28% after founder Trevor Milton steps down as executive chairman

1 month ago   |   By

Nikola founder and executive chairman Trevor Milton.
Massimo Pinca/Reuters
Nikola tanked as much as 28% in early Monday trading after founder Trevor Milton voluntarily stepped down as executive chairman and a member of the board. Stephen Girsky, former vice chairman of General Motors , took the reins as the company's chairman after Nikola's board approved of Milton's proposal, according to a press release. Nikola shares traded with massive volatility in recent weeks after short-selling firm Hindenburg Research accused the automaker of lying about its technology and order book. While...
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Nikola founder Trevor Milton resigns following fraud allegations

1 month ago   |   By

Nikola founder and executive chairman Trevor Milton.
Massimo Pinca/Reuters
Trevor Milton, the founder of electric truck startup Nikola, has stepped down as executive chairman following fraud allegations against the company.
Milton said "the focus should be on the company and its world-changing mission, not me."
Stephen Girsky, a former vice-chairman of General Motors and a Nikola board member, will replace Milton. He will have the title of chairman.
Hindenburg Research, a short-seller, published a lengthy report accusing the electric truck maker Nikola of fraud on September 10.
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