With more teasers, renderings, and test prototypes than production vehicles, it’s probably safe to say Lordstown Motors is not delivering on the promises it has made in the last few years. The company’s latest press release even includes the bold claim that Lordstown is “a leader in electric light-duty trucks focused on the commercial fleet market,” though its latest move probably hints at more problems behind the curtains.
The automaker has just announced changes to its executive management team with Steve Burns and Julio Rodriguez resigning from their roles as Chief Executive Officer and Chief Financial Officer, respectively. The two changes are effective immediately, Lordstown says, and it has approached an executive search firm to find permanent replacements for the two executives.
Until that happens, the company’s Lead Independent Director Angela Strand will temporarily take the position of Executive Chairwoman of the company with the only goal of overseeing its transition until a permanent CEO is appointed. According to the press release, the changes are necessary due to the firm’s transition from the early production phase to the commercial production phase.
“Lordstown Motors has achieved significant milestones on the path to developing the first and best full-size all-electric pickup truck, the Lordstown Endurance,” David Hamamoto, member of the board of directors, comments. “We thank Steve Burns for his passion and commitment to the company. As we transition to the commercial stage of our business – with planned commencement of limited production in late September – we have to put in place a seasoned management team with deep experience leading and operating publicly-listed OEM companies. We have complete confidence in Angela and Becky, and our expanded leadership team, to effectively guide the company during this interim period.”