Lordstown Motors CEO, CFO resign as startup’s struggles continue

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Lordstown Motors CEO Steve Burns and CFO Julio Rodriguez have resigned from the startup automaker following last week’s announcement that it may not have enough cash to begin production of its all-electric pickup truck this fall.

The company’s Lead Independent Director Angela Strand has been appointed Executive Chair and will oversee the company until a new CEO is found. Becky Roof has been named interim CFO.

Ticker Security Last Change Change %RIDE LORDSTOWN MOTORS 11.41 +0.81 +7.64%

The stock was down sharply in pre-market trading on the news Monday adding to the 43% drop already this year. 

Burns, who founded the company and remains its largest shareholder, also resigned from its board of directors.

“Lordstown Motors has achieved significant milestones on the path to developing the first and best full-size all-electric pickup truck, the Lordstown Endurance. We thank Steve Burns for his passion and…

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