(Reuters) – U.S. electric-truck maker Nikola Corp ‘s (O:) founder and executive chairman Trevor Milton has stepped down, the company said on Sunday, as it battles allegations from a short-seller that it misled investors and automakers.
Milton approached the board and proposed to voluntarily step aside, and Stephen Girsky has been named as chairman, effective immediately, the company said.
Short-seller Hindenburg Research alleged the company misled investors and large automakers over its technology in a scathing report that had sent Nikola’s shares lower.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.