NIKOLA ANNOUNCES LEADERSHIP SUCCESSION; ANASTASIYA PASTERICK TO BECOME CHIEF FINANCIAL OFFICER

Rhea-AI Summary

Nikola Corporation (NASDAQ: NKLA) has announced that Chief Financial Officer Kim J. Brady will retire effective April 7, 2023. Anastasiya "Stasy" Pasterick, currently Vice President, Corporate Controller, will succeed him. Pasterick will lead Nikola's finance and accounting teams, focusing on investor relations, strategic finance, and treasury. CEO Michael Lohscheller praises Brady's contributions during his tenure, highlighting his role in funding and taking the company public. Brady will remain at Nikola in an advisory role until April 28, 2023, to ensure a smooth transition. Pasterick has been with Nikola since 2019 and has played a crucial role in its financial operations.

Positive

• Anastasiya Pasterick, as the new CFO, has a strong background in financial leadership, having previously worked at nLIGHT, Inc.
• Pasterick's appointment comes during a critical growth period for Nikola, focusing on new energy initiatives and vehicle commercialization.

Negative

• None.

• Kim J. Brady to retire as Chief Financial Officer of Nikola Corporation, effective April 7, 2023
• Anastasiya "Stasy" Pasterick, current Nikola Corporation Vice President, Corporate Controller, has been named successor

PHOENIX, March 27, 2023 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, today announced that Chief Financial Officer (CFO) of Nikola Corporation, Kim J. Brady, will retire as CFO effective April 7, 2023. Anastasiya "Stasy" Pasterick, who is currently serving as Nikola's Vice President, Corporate Controller, will succeed Brady as the company's new CFO. Brady will remain employed with Nikola through April 28, 2023, as a non-executive officer in an advisory capacity to support the transition.

As CFO, Pasterick will be responsible for leading Nikola's finance and accounting team, including investor relations, strategic finance, and treasury.

"Stasy's proven financial acumen and attention to detail are the capabilities the company needs now as we build on the momentum surrounding the unveiling of our new energy brand, HYLA, the commercialization of our Class 8 battery-electric truck, and the pending production of our Class 8 hydrogen fuel cell vehicle," said Michael Lohscheller, Nikola Corporation President and CEO. "We are grateful to Kim for his leadership and dedication to the company for the past five years. He led the organization's early rounds of funding and was instrumental in taking the company public and shaping its strategy. We sincerely wish him all the very best as he embarks on a new and exciting chapter in his life."

"It has been a privilege to be part of the great team at Nikola and I am proud of what we have accomplished together, including building a strong foundation for a zero-emissions transportation future and energy transition to hydrogen," said Brady. "I'll miss the passion, vision, and collaborative spirit throughout the organization and am pleased to see a high-caliber leader like Stasy step in as the next CFO of the company."

"It is an honor to have the opportunity to continue shaping Nikola as we remain focused on the execution of our business plan and navigate the next chapter of our journey," said Pasterick. "I am grateful to Kim for serving as a valued colleague, mentor, and friend since I joined the Nikola team over four years ago."

ABOUT STASY PASTERICK

Pasterick started her career at KPMG LLP where she worked in audit for seven years, serving a diverse portfolio of clients in the automotive and technology sectors from pre-revenue start-ups to global multi-billion-dollar corporations. Prior to joining Nikola in 2019, Pasterick held several financial leadership positions at OEM manufacturing firms including Director of Accounting Operations at Erickson, Inc., and Corporate Controller at nLIGHT, Inc. (NASDAQ: LASR), where she led all financial aspects of the company's IPO.

At Nikola, Pasterick was key in executing the organization's SPAC merger in 2020 and has been responsible for the overall financial operations of the company including accounting, reporting, transactional finance, and manufacturing finance. She has established Nikola's accounting and reporting infrastructure as a new public company and has been instrumental in scaling the organization's financial operations through entering commercial production.

Pasterick is a Certified Public Accountant (CPA) and holds a B.S. in Business Administration from Portland State University.

ABOUT NIKOLA CORPORATION
Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero tailpipe emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit www.nikolamotor.com or Twitter @nikolamotor.

FORWARD LOOKING STATEMENTS
Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the company's expectations regarding the potential benefits of the announced executive leadership change. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Nikola's management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to general economic, financial, legal, regulatory, political and business conditions and changes in domestic and foreign markets; the potential effects of COVID-19; the outcome of legal proceedings to which Nikola is, or may become a party; failure to realize the anticipated benefits of the recently completed business combination with Romeo; the conversion of pre-orders into binding orders; risks related to the rollout of Nikola's business and the timing of expected business milestones; the effects of competition on Nikola's future business; the availability of capital; and the other risks detailed from time to time in Nikola's reports filed with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2022 and other documents Nikola files with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and Nikola specifically disclaims any obligation to update these forward-looking statements.

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SOURCE Nikola Corporation

FAQ

Who is the new CFO of Nikola Corporation?

The new CFO of Nikola Corporation is Anastasiya "Stasy" Pasterick, effective April 7, 2023.

What was Kim J. Brady's role at Nikola Corporation?

Kim J. Brady served as the Chief Financial Officer (CFO) at Nikola Corporation before his retirement.

When is Kim J. Brady's retirement date from Nikola Corporation?

Kim J. Brady's retirement date from Nikola Corporation is April 7, 2023.

What responsibilities will Anastasiya Pasterick have as CFO?

Anastasiya Pasterick will be responsible for leading Nikola's finance and accounting team, including investor relations, strategic finance, and treasury.

What is Nikola Corporation's stock symbol?

Nikola Corporation's stock symbol is NKLA.

What is the significance of Anastasiya Pasterick's appointment for Nikola?

Pasterick's appointment as CFO is significant as it comes during a critical phase of growth and commercialization for Nikola's energy initiatives.