What's Going On With Freyr Battery Stock Monday?

FREYR Battery FREY shares are trading higher. The company on Monday announced organizational structure and leadership changes.

What Happened: Freyr Battery promoted Andreas Bentzen to CTO to lead the development of the company's technology strategy and product innovation initiatives. Jessica Wirth Strine, who has prior experience as a portfolio manager at BlackRock and Vanguard will also join Freyr's board, effective immediately. 

Freyr also said Ryuta Kawaguchi will assume the role of chief strategy officer, Mike Brose will now lead all of the company's activities in Mo i Rana, Amy Jaick has been promoted to head of global communications and Jan Dahm-Simonsen will lead the company's global human resources function.

Freyr said its new organizational structure is aimed at generating long-term value for shareholders in accordance with the company's top strategic priorities, which include completing the final stages of commissioning and commencing automated production and establishing the U.S. as the company's primary strategic production hub.

See Also: Cybertruck Delivery Event To Start Thursday Noon, Not Evening, Tesla Exec Clarifies

FREY Price Action: Freyr Battery shares were up 3.12% at $1.67 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Freyr.