Nikola Stock Is Moving Higher Monday: What's Going On?

Nikola Corp NKLA shares are trading higher. The company announced the appointment of a new chief operating officer Monday morning. 

What Happened: Nikola has appointed Mary Chan as COO, effective Oct. 9. Chan is set to lead several teams at the company including the engineering, program, product, supply chain and manufacturing teams. 

Nikola president and CEO Steve Girsky noted that Chan's appointment will help to streamline decision-making processes and boost the company's "reputation for excellence" in engineering and manufacturing.

"I have had the pleasure of collaborating with Mary for over a decade, and I cannot think of a more qualified individual to assume the role of COO at Nikola," Girsky said.

"Mary brings a solid understanding of business, combined with extensive experience in technology and transportation, spanning both engineering and management. Her expertise will be a tremendous asset to the Nikola team."

Chan previously served as a managing partner at VectoIQ, which helped bring Nikola public via SPAC. She also served as president of the global connected consumer group at General Motors Co GM where she led the launch of 4G LTE connectivity across GM brands. 

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NKLA Price Action: Nikola shares were up 3.36% at $1.23 Monday morning, according to Benzinga Pro.

Photo: courtesy of Nikola.