Nikola Appoints Former GM Exec Thomas Okray As New CFO

EV maker Nikola NKLA on Monday named former General Motors executive Thomas B Okray as its new Chief Financial Officer (CFO).

What Happened: Okray spent over 14 years with General Motors in positions including CFO of Global Product Development and Vice President of the Fiat-GM Powertrain joint venture. He has also previously held the position of CFO at Eaton Corporation, Grainger, and Advance Auto Parts.

"Tom's depth of financial expertise, cultivated over four decades, will play a crucial role as we expand our supply base and profitably scale our business,” Nikola CEO Stephen Girsky said.

Girsky took on the role of the company’s acting CFO last month following the departure of the previous CFO in November. Anastasiya Pasterick resigned after only six months on the job. She had replaced Kim J. Brady, who stepped down in April.

Girsky himself is the company's fourth CEO in the past four years, having taken over the position in August from Michael Lohscheller.

Nikola’s Financials: For the whole of last year, Nikola produced a total of 38 trucks, less than the 258 it made in 2022. It reported a total revenue of $35.8 million for the period and a gross loss of $214.1 million, higher than the $86 million it reported for 2022.

Price Action: On Monday, Nikola's share price closed down 5% at $0.7, according to data from Benzinga Pro. 

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