Electric RV Future Unclear After Lordstown CEO Resigns

A picture of the Lordstown Motors logo

The future of the electric RV planned by Lordstown Motors and Camping World became unclear Monday after Lordstown announced the resignations of CEO Steve Burns and Chief Financial Officer Julio Rodriguez.

Lead Independent Board Director Angela Strand was appointed executive chairwoman. The company stated she will oversee the transition to a permanent CEO. Becky Roof will serve as interim chief financial officer.

“Lordstown Motors has achieved significant milestones on the path to developing the first and best full-size all-electric pickup truck, the Lordstown Endurance,” David Hamamoto said on behalf of the board of directors. “We thank Steve Burns for his passion and commitment to the company. As we transition to the commercial stage of our business – with planned commencement of limited production in late-September – we have to put in place a seasoned management team with deep experience leading and operating publicly-listed OEM companies.”

In January, Lordstown confirmed it expected to release all-electric RV prototypes in June. Since then, however, the company reported financial results in May, stating 2021 production would be half its prior expectations, at best. Lordstown also said it would seek additional capital to fund its business plans.

Monday, Lordstown announced other executive team moves:

  • Rich Schmidt, Lordstown Motors president, will continue to oversee all day-to-day operations, including manufacturing and engineering. Schmidt was promoted to president in November.
  • Jane Ritson-Parsons, formerly Lordstown Motors interim chief brand officer, has been appointed Chief Operating Officer.
  • Carter Driscoll, formerly Lordstown Motors head of investor relations, has been promoted to vice president, corporate development, capital markets and investor relations.
  • Tom Canepa, general counsel; Shane Brown, chief production officer; Darren Post, vice president of engineering; John Vo, vice president of propulsion; will remain in their current roles to continue to guide the company’s progress.

“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. “Along with the management team, I will continue to work closely with them and the board to execute on Lordstown’s vision for the future of electrified transportation.”

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