Nikola Founder Trevor Milton Resigns as Executive Chairman Amid Fraud Allegations
Nikola Corp. founder and Executive Chairman Trevor Milton is stepping down from the electric-truck startup with immediate effect in the wake of allegations from a short seller that he and the company had made false statements to investors.
The company said Mr. Milton would be succeeded by Stephen Girsky, a former General Motors Co. executive who already sits on the truck company’s board.
Nikola, which went public in June through a reverse merger, has come under scrutiny since short seller Hindenburg Research released a report earlier this month accusing the company and Mr. Milton of making exaggerated claims about the readiness of Nikola
https://www.wsj.com/articles/nikola-chairman-steps-down-as-company-faces-probe-11600672351