Lordstown Motors Corp. on Thursday said Daniel Ninivaggi, a longtime automotive industry executive and lieutenant to billionaire Carl Icahn, has joined the electric-truck startup as chief executive and a member of the board.
Mr. Ninivaggi once served as CEO of Icahn Enterprises LP and ran Icahn’s automotive aftermarket service network and parts distribution businesses. He also served as co-chairman and co-CEO of Icahn’s Federal Mogul unit before its sale to Tenneco Inc.
As of June 30, Carl Icahn, the billionaire activist investor, didn’t hold a stake in Lordstown Motors.
Lordstown Motors plans to begin production of electric pickup trucks at a former General Motors Co. assembly plant in Ohio next month, but the company’s stock has been slammed in recent months due to several challenges that have emerged since it went public last fall.
Shares were up nearly 25% in Thursday morning trading.
