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Leadership team of Lordstown Motors resigns amid growing financial concerns

Updated: Jun. 14, 2021 at 9:44 AM EDT
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LORDSTOWN, Ohio (WOIO) - The chief executive officer and chief financial officer both submitted their resignations from Lordstown Motors, an electric truck start-up manufacturer.

CEO Steven Burns and CFO Julio Rodriguez submitted a letter to the company’s investors announcing their resignations, effective immediately.

It was announced just days ago that Lordstown Motors had growing doubt over whether the company will be able to financially succeed, according to CNBC.

Lead Independent Director Angela Strand has been appointed to the executive chairwoman position while Becky Roof will serve as CFO in the interim with plans to continue a focus on electric light-duty truck production in September.

“We remain committed to delivering on our production and commercialization objectives, holding ourselves to the highest standards of operation and performance and creating value for shareholders,” Strand said.

Lordstown Motors owns the 6.2 million-square-foot assembly plant vacated by General Motors.

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