Change Signs The workhorse is undergoing an extensive management shakeup after Richard Douche took over as chief executive officer last month.
see photosThe workhorse is reportedly under investigation by the US Securities and Exchange Commission
Electric vehicle maker Workhorse Group said Thursday that two of its top executives, including finance chief Steve Schrader, had left the company and that it had hired new people as part of management to reduce its business goals. Change Signs The workhorse is undergoing an extensive management shakeup after Richard Douche took over as chief executive officer last month.
The company’s corporate controller, Greg Ackerson, will take over as chief financial officer on an interim basis, while the company seeks a permanent successor.
Workhorse said its chief operating officer Rob Willison has also left, and it was eliminating the role. The company said it has made new appointments to the positions of chief technology officer and chief administrative officer, among others.
The workhorse is reportedly under investigation by the US Securities and Exchange Commission, according to a letter to the regulator published by a short seller this month.
Workhorse said its chief operating officer Rob Willison has also left, and it was eliminating the role.
Workhorse said Thursday that the departure of Schrader, who was CFO for less than two years, was not based on any disagreement with the company’s accounting principles or practices or financial statement disclosures.
These changes focused on the EV maker’s long-term commercial goals after losing a multi-billion dollar, 10-year contract earlier this year to the US Postal Service (USPS) to build a new generation of postal delivery vehicles. .
0 notes
Last week, Workhorse said it would suspend deliveries of its flagship C-1000 electric van, saying it needed more testing and modifications to ensure compliance with regulatory standards. It also said that it would recall the 41 vans that it had already delivered. Shares of the Ohio-based company Cincinnati fell nearly 1% on Thursday after falling more than 60% this year.
for the latest auto news And ReviewFollow carandbike.com Twitter, Facebookand subscribe to our youtube Channel.
.