Shares of Nikola Corporation (NASDAQ: NKLA) skyrocketed over 33% on Monday after the company named Mary Chan as its new Chief Operating Officer (COO), with her tenure set to commence on October 9, 2023.
This move marks one of CEO Steve Girsky’s first major management decisions since taking the helm in early August. Nikola has faced significant turbulence recently due to a major recall of its battery-electric trucks, which had left investors cautious about the company’s prospects.
However, CEO Girsky took proactive steps to address investor concerns, engaging in a fireside chat and fielding questions just last week. Since then, Nikola’s stock has been on a relentless upward trajectory. The recent announcement of Mary Chan as COO appears to have ignited even greater enthusiasm among investors.
Mary Chan brings a wealth of experience to Nikola Corporation (NASDAQ: NKLA). She has worked for General Motors Company (NYSE: GM), Dell Technologies Inc. (NYSE: DELL), and various wireless communications companies. During her tenure at GM, she managed the development of connected infotainment products and the next-generation OnStar data service. She joined Nikola to lead various domains, including engineering, product development, supply chain, and manufacturing.
Last week, Girsky addressed the recall issue related to potential battery fires resulting from a coolant leak. He reassured stakeholders that the company has a fix and expects testing to confirm that affected trucks can be fully repaired once it is applied.
Furthermore, Girsky announced that the company will begin shipping its hydrogen fuel cell trucks to eagerly awaiting customers soon.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
