LORDSTOWN, Ohio – Lordstown Motors Corp. announced this early morning that its board of directors has appointed Daniel A. Ninivaggi as CEO and as a member of the board, productive straight away.
Ninivaggi is the former CEO of Icahn Enterprises L.P., a diversified holding enterprise managed by Carl C. Icahn, and has served in a selection of senior leadership positions in the automotive and transportation industries. He began his automotive vocation at Lear Corp., finally serving as govt vice president, wherever he was accountable for, between other features, corporate advancement and technique. He later on held the positions of co-chairman and Co-CEO of Federal Mogul Holdings Corp., an $8 billion supplier of powertrain, chassis, sealing, brake and other automotive parts, prior to its sale to Tenneco.
Although with Icahn Enterprises, Ninivaggi also oversaw Icahn Enterprises’ automotive aftermarket service community and areas distribution firms.
Ninivaggi has considerable encounter as a director of community providers, including Icahn Enterprises, Motorola Mobility (before its sale to Google), Navistar Intercontinental, Hertz World Holdings and CVR Power. He at this time serves as the chairman of the board of Garrett Movement Inc., a Tier 1 supplier of turbochargers and other propulsion products and solutions.
“I think the demand for whole-dimensions electrical pickup vans will be sturdy and the Stamina truck, with its progressive wheel hub motor style, has the chance to seize a meaningful share of the sector. With an complete focus on execution, I appear forward to operating with the talented Lordstown administration workforce, our suppliers and other associates to carry the Endurance to market and increase the value of our assets,” reported Ninivaggi in a organized statement.
“The board is enthusiastic about Dan’s appointment as CEO, said David Hamamoto, chairman of the board research committee. We are impressed with his broad automotive track record, track record, strategic wondering, and crew-oriented leadership expertise. On top of that, his capital marketplaces know-how and financial commitment proficiency will be priceless in navigating the firm via its business ramp-up, cash allocation and expansion section. We unanimously concluded that he has the exceptional blend of capabilities and public corporation expertise to direct Lordstown Motors at this time. On behalf of the entire board, I’d like to thank Angela Strand who successfully served as executive chairwoman for the duration of the CEO changeover time period and will go on as non-government chair heading ahead.
Ninivaggi is a graduate of Stanford College Faculty of Law, the University of Chicago Graduate School of Business and Columbia University.
Resource: Lordstown Motors Corp.
Released by The Business enterprise Journal, Youngstown, Ohio.