– USA, OH – Lordstown Motors Corporation (Nasdaq: RIDE), a leader in electric light-duty trucks focused on the commercial fleet market, today announced the appointment of Daniel Ninivaggi to its Board of Directors as CEO effective immediately.
“The Board is enthusiastic about Dan’s appointment as CEO. We are impressed with his broad automotive background, track record, strategic thinking, and team-oriented leadership talent. Furthermore, his capital markets expertise and investment proficiency will be invaluable in navigating the company through its commercial ramp-up, capital allocation, and growth phase. We unanimously concluded that he has the optimal combination of skills and public company experience to lead Lordstown Motors at this time. On behalf of the entire Board, I’d like to thank Angela Strand who successfully served as Executive Chairwoman during the CEO transition period and will continue as Non-Executive Chair going forward,” said Chairman of the Lordstown Board CEO Search Committee.
About Daniel Ninivaggi
Daniel Ninivaggi is the former CEO of Icahn Enterprises L.P. (Nasdaq: IEP), a diversified holding company controlled by Carl Icahn, and has served in a variety of senior leadership positions in the automotive and transportation industries. He began his automotive career at Lear Corporation, ultimately serving as EVP, where he was responsible for, among other functions, corporate development, and strategy. He later held the positions of Co-Chairman and Co-CEO of Federal-Mogul Holdings Corporation, an $8 billion supplier of powertrain, chassis, sealing, brake, and other automotive components, before its sale to Tenneco.
While with Icahn Enterprises, Daniel Ninivaggi also oversaw Icahn Enterprises’ automotive aftermarket service network and parts distribution businesses. Ninivaggi has extensive experience as a director of public companies, including Icahn Enterprises, Motorola Mobility (before its sale to Google), Navistar International, Hertz Global Holdings, and CVR Energy. He currently serves as the Chairman of the Board of Directors of Garrett Motion Inc. (Nasdaq: GTX), a leading Tier 1 supplier of turbochargers and other propulsion products.
“I believe the demand for full-size electric pickup trucks will be strong and the Endurance truck, with its innovative wheel hub motor design, has the opportunity to capture a meaningful share of the market. With an absolute focus on execution, I look forward to working with the talented Lordstown management team, our suppliers, and other partners to bring the Endurance to market and maximize the value of our assets,” said Daniel Ninivaggi, Lordstown Motors CEO.
Ninivaggi is a graduate of Stanford University School of Law, the University of Chicago Graduate School of Business, and Columbia University.
About Lordstown Motors Corp.
Lordstown Motors Corp. is an Ohio-based original equipment manufacturer of light-duty fleet vehicles, founded to transform Ohio’s Mahoning Valley and Lordstown, Ohio, into the epicenter of electric vehicle manufacturing. The company owns the 6.2 million square foot Lordstown Assembly Plant where it plans to build the Lordstown Endurance, believed to be the world’s first full-size, all-electric pickup truck designed to serve the commercial fleet market.
For more information: https://www.lordstownmotors.com/
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