Workhorse Group (NASDAQ: WKHS) this morning issued a serious of announcements related to executive leadership changes at the company. Buried within the body of the release, is the news that two of the firms top executives have seemingly decided to leave the company at the same time for undisclosed reasons.
Chief among the departures is that of Steve Schrader, the firms Chief Financial Officer. Schrader reportedly did not leave “based on any disagreement with the Company’s accounting principals or practices.” His departure will be covered on an interim bases by Greg Ackerson, the corporate controller of the firm, while the company looks to find a permanent replacement.
Also departing the company is Rob Willison, Chief Operating Officer of Workhorse Group. Following him leaving the company, the firm has removed the role from its executive team entirely.
Justification for the departure of either individual was not provided by the company. Instead, the firm focused on a number of internal promotions, including Josh Anderson to that of Chief Technology Officer, a newly created role. Anderson had previously bounced around in the company, serving as President to a number of the firms operations.
Workhorse Group last traded at $7.74 on the Nasdaq.
Information for this briefing was found via Edgar 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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.