LORDSTOWN, Ohio — Editor's Note: The above video is from previous reporting on the sale of Lordstown Motors to Foxconn
Exactly two months after finalizing its purchase agreement with Foxconn, Lordstown Motors (LMC) has announced several key executive appointments.
Edward Hightower, who has served as the company's president, has been tapped to become LMC's chief executive officer. He will serve in the dual roles effective immediately. Hightower will also continue as CEO of MIH EV Design LLC, LMC's product development joint venture with Foxconn. He has also been elected to the Board of Directors of Lordstown Motors.
Former CEO Daniel A. Ninivaggi was named LMC's executive chairman of the board. The company says in this capacity, Ninivaggi will focus on corporate strategy, strategic partnerships and capital raising.
"Since joining Lordstown Motors, recruiting an experienced and talented management team has been a key priority," Ninivaggi said in a statement. "With the recent closing of the Foxconn transactions and the launch of our new Foxconn joint venture, Lordstown Motors has shifted to a more engineering and product development focused OEM (original equipment manufacturer). With over 30 years of automotive experience and having made significant contributions to the Endurance launch preparation and Foxconn transactions, Edward is the perfect person to lead the company and launch our product development efforts with Foxconn. As Executive Chairman, I will continue to focus on strategic and financial matters, working closely with Edward and CFO Adam Kroll."
Other appointments announced Tuesday include:
- Dr. Donna Bell as LMC's executive vice president of product creation, engineering and supply chain
- Andrew Reyntjes as senior vice president for sales, service and, marketing
- Jill Coniglio-Kirk as vice president of people & culture
In addition, LMC announced that Jane Ritson-Parsons will be transitioning out of the role of chief commercial officer to become an advisor to the company.
On May 12 of this year, LMC announced that it had finalized an agreement to sell its facility to Taiwan's Hon Hai Technology Group (Foxconn). As a result of the deal, Foxconn immediately assumed manufacturing operations at the Lordstown plant while taking over the employment of approximately 400 LMC workers.
Under the terms of the agreement, Lordstown Motors received $230 million, plus the reimbursement of approximately $27 million in operating and expansion costs.
"We now have a focused leadership team with vast experience in developing, launching and commercializing vehicles," Hightower added in the statement by LMC. "I've just returned from two weeks in Taiwan meeting with Foxconn and exploring our joint product development opportunities. I look forward to strengthening our partnership and confirming our first vehicle program over the next several months. The LMC team also remains laser focused on launching the Endurance this quarter, with commercial deliveries expected in the fourth quarter."
Previous Reporting: