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Lordstown appoints Chief Commercial Officer, other executives in management rejig -Breaking

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© Reuters. FILE PHOTO A Lordstown Motors sign can be seen at Lordstown Assembly Plant, Lordstown (Ohio, U.S.A), June 21st, 2021. REUTERS/Rebecca Cook/File Photo

(Reuters) – Lordstown Motors has appointed new executive officers, including a Chief Financial Officer on Wednesday. The electric-vehicle startup is stepping up its efforts to introduce its first pickup truck onto the market.

Jane Ritson-Parsons, Chief Operating Officer of the company, will assume the new role as Chief Commercial Officer in Lordstown to develop Lordstown’s vehicle commercial strategy.

Lordstown has also announced Edward Hightower as the President of Automotive Ventures, replacing Rich Schmidt who will be retiring. Hightower currently serves as Managing Director for Motoring Ventures. He has also been working in consulting roles with Lordstown.

Shea Burns will be taking over the Senior Vice President of Operations role at Lordstown. Shea Burns has also been an autos veteran who led numerous launches at Ford Motor (NYSE.) Co. Burns, according to company officials, will be supporting the Endurance pickup-truck launch.

Lordstown’s management has been restructured after Julio Rodriguez and Steve Burns, the founders and chief executive officers of Lordstown, resigned.

Although the company found new replacements since then, it still tries to bring its first model, Endurance pickup to market. This task is made harder by its shaky financial situation and the storm of regulatory scrutiny and short-seller scrutiny that have weighed on its viability.

Lordstown’s shares fell more than 70% in the past year. On Thursday, the company will report third quarter results. Analysts are expecting an update regarding the pickup truck.

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