Lordstown Motors Corp. WRINKLED,
hired a new chief financial officer, a move that comes as the electric truck startup scrambles to assess new financing options and bring its first pickup to market.
The Lordstown, Ohio-based company on Wednesday appointed Adam Kroll, 46, as chief financial officer, effective October 25. Kroll, a former investment banker, most recently served as Executive Director of Hyzon Motors Inc. HYZN,
a supplier of utility vehicles running on hydrogen, from March to July.
He previously served as Interim CFO at UPG Enterprises LLC, a family office, from October 2020 to January. Prior to that, he spent five years at event technology provider PSAV Holdings, where he served as treasurer, head of business development and senior vice president of finance. Kroll from 2007 to 2015 worked as an Executive Director at JPMorgan Chase & Co. JPM,
and advised automotive companies on capital markets and credit transactions as well as mergers and acquisitions.
Kroll is set to replace Lordstown’s interim CFO Rebecca Roof, who has been in the post since June. Former CFO Julio Rodriguez and Steve Burns, former CEO, resigned that month after a committee of the board discovered that parts of Lordstown’s disclosures regarding pre-orders of its trucks were inaccurate.
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