Lordstown Motors Corp. WRINKLED,
has hired a new chief financial officer, a move that comes as the electric truck startup struggles to evaluate new financing options and bring its first pickup truck to market.
The Lordstown, Ohio-based company on Wednesday named Adam Kroll, 46, as chief financial officer, effective Oct. 25. Kroll, a former investment banker, most recently served as administrative director of Hyzon Motors Inc. HYZN,
supplier of hydrogen utility vehicles, from March to July.
He previously worked as Acting Chief Financial Officer 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, corporate development manager and senior vice president of finance. Kroll from 2007 to 2015 worked as an executive director at JPMorgan Chase & Co. JPM,
and has advised automotive companies on capital markets and lending transactions as well as mergers and acquisitions.
Kroll is expected to replace Lordstown’s interim chief financial officer, Rebecca Roof, who has been in the role since June. Former chief financial officer Julio Rodriguez and Steve Burns, the former chief executive, resigned that month after a board committee found that parts of Lordstown’s disclosures regarding pre-orders for its trucks were inaccurate.
An expanded version of this report appears on WSJ.com.
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