Thursday, October 16, 2025

Lordstown Motors CEO, CFO Resign Following Investigation Of Hindenburg Report

Lordstown Motors (NASDAQ: RIDE) has seen both CEO Steve Burns and CFO Julio Rodriguez resign from the company effective immediately. The company indicated that the resignations were in connection with the company transitioning from “the R&D and early production phase to the commercial production phase of its business.”

Notably however, the resignations follow the firms independent directors completing and releasing a report related to the Hindenburg Research short report conducted on the company. The investigation found that among other items, “Lordstown Motors made periodic disclosures regarding pre-orders which were, in certain respects, inaccurate.”

Specifically, the investigation found that one entity that is responsible for a large number of pre-orders does not have the resources to follow through with the purchases, and that much of its “influencers” had no intent to acquire a vehicle from the firm directly.

Independent director Angela Strand has been appointed Executive CHairwoman and is to oversea the “transition” of the company until a permanent CEO is appointed. Becky Roof meanwhile will serve as interim CFO of the firm.

Lordstown Motors last traded at $11.41 on the Nasdaq.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

Military Seizes Power in Madagascar After President Flees

Altamira Gold Hits 395.5 Metres Of 0.4 g/t Gold At Maria Bonita

Related News

Mercedes-Benz Introduces Sleek New EV Concept Car at CES; Digging Deeper, Such Unveilings Highlight Valuation Risks in EV Stocks

Many electric vehicle (EV) developers have succeeded in designing sleek, eye-catching vehicles with solid engineering...

Tuesday, January 4, 2022, 03:11:00 PM

Nikola’s Shares Dip as Damaged Truck Catches Fire at Company Headquarters… Again

Nikola Corp (NASDAQ: NKLA) experienced another blow on Sunday afternoon when one of its previously...

Tuesday, July 25, 2023, 06:17:00 AM

BMW Plans to Produce an Additional 250,000 EVs Within Next Three Years

As the EV market continues to heat up with numerous major auto-manufacturers joining the ‘space...

Saturday, January 2, 2021, 11:34:00 AM

Volkswagen Mulls First-Ever Factory Closures in Germany

Volkswagen Group (ETR: VOW3), Europe’s largest automaker, is contemplating the closure of factories in Germany...

Tuesday, September 3, 2024, 07:49:42 AM

Rising Insurance Prices Challenge Electric Vehicle Affordability

Auto insurers have significantly increased prices for electric vehicle (EV) insurance in the past year,...

Monday, October 30, 2023, 11:01:00 AM