Ninivaggi, a graduate of Stanford University School of Law and the University of Chicago Graduate School of Business and Columbia University, oversaw Icahn Enterprises' automotive aftermarket service network and parts distribution businesses. He serves as the chairman of the board of Garrett Motion Inc., a supplier of turbochargers and other propulsion products.
Ninivaggi said he believes demand for full-size electric pickup trucks will remain strong, "and the Endurance truck, with its innovative wheel hub motor design, has the opportunity to capture a meaningful share of the market. With an absolute focus on execution, I look forward to working with the talented Lordstown management team, our suppliers and other partners to bring the Endurance to market and maximize the value of our assets."
David Hamamoto, chairman of the Lordstown Board CEO search committee, said the board was impressed with his broad automotive background, track record, strategic thinking and team-oriented "leadership talent," and his "capital markets expertise and investment proficiency will be invaluable in navigating the company through its commercial ramp-up, capital allocation and growth phase. We unanimously concluded that he has the optimal combination of skills and public company experience to lead Lordstown Motors at this time."
