TOM SCHMITT NAMED CHIEF COMMERCIAL OFFICER OF NIKOLA CORPORATION

Rhea-AI Summary

Nikola (Nasdaq: NKLA), a leader in zero-emissions transportation and energy solutions, has appointed Thomas "Tom" Schmitt as Chief Commercial Officer (CCO). Schmitt, with over 35 years of experience in transportation leadership, will oversee sales, commercial operations, dealerships, service, customer success, and marketing functions. His appointment aims to scale Nikola's business and enhance customer experience in the zero-emission Class 8 marketplace.

Schmitt's impressive career includes roles as CEO of Forward Air, CCO of Schenker, CEO of Purolator and FedEx Supply Chain. President and CEO Stephen Girsky emphasized the importance of strengthening the commercial team for Nikola's success. Schmitt expressed enthusiasm about joining Nikola's mission to decarbonize the trucking industry.

Positive

• Appointment of experienced transportation executive Tom Schmitt as CCO
• Schmitt brings over 35 years of leadership experience in the transportation industry
• Strategic move to scale Nikola's business and expand in the zero-emission Class 8 marketplace

Negative

• None.

Skilled transportation executive positioned to further company focus on zero-emissions trucking and hydrogen infrastructure solutions

PHOENIX, Aug. 27, 2024 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today announced the appointment of accomplished transportation executive Thomas "Tom" Schmitt as Chief Commercial Officer (CCO) of Nikola Corporation.

As CCO, Schmitt will align Nikola's commercial efforts to scale the company's business. He will oversee the company's sales, commercial operations, dealerships, service, customer success, and marketing functions.

"Fortifying our commercial team is crucial to our success as we focus on our customers' experience and expanding the zero-emission Class 8 marketplace," said President and CEO, Stephen Girsky. "Tom brings a solid track record built over the past 35-plus years that will help drive forward Nikola's strategic and operational goals, inside and out."

Schmitt brings to Nikola decades of transportation leadership, having served as CEO of Forward Air, CCO of Schenker, CEO of Purolator and FedEx Supply Chain and is a longtime board member for various well-known entities. 

"I've been following Nikola for years, and it's an honor to join this mission-driven organization with the sole goal of decarbonizing the trucking industry," said Schmitt. "I look forward to working with the passionate Nikola team in bringing that goal to fruition."

ABOUT THOMAS SCHMITT
Thomas "Tom" Schmitt is Chief Commercial Office (CCO) of Nikola Corporation.

Prior to Nikola, Schmitt served as President, Chairman and CEO of Forward Air, a major freight transportation business focused on North America. Under his leadership, Schmitt and his team led the company to profitable growth during the global COVID pandemic, with the share price more than tripling from early 2020 through December 2021.

From 2015 to 2018, Schmitt was a Management Board Member and CCO for Schenker, a freight forwarding, transportation and logistics company, operating in 140 countries with $30 billion in global revenues. He led a team of 22,000 in the Global Contract Logistics business, and as CCO, Schmitt led Schenker AG's global Sales and Marketing activities, and in his first year, the company grew by more than €1 billion.

Between 2013 and 2015, Schmitt led Aqua Terra, Canada's leading provider of natural spring water, reporting directly to the Board as one of the company's owners, together with Private Equity firm Birch Hill Partners. Under Schmitt's leadership, the company was transformed, and at the end of his tenure, Schmitt and Birch Hill executed the sale of Aqua Terra to a larger strategic buyer.

From 2010 to 2012, Schmitt served as CEO and director on the Board for Purolator, a $1.6 billion company with 12,000 employees and Canada's top parcel and freight provider. Prior to Purolator, Schmitt spent 12 years at FedEx, where he served as CEO of FedEx Supply Chain, a FedEx operating company, and led FedEx Solutions, a FedEx Services division that developed and executed specific and integrated turnkey supply chain customer solutions.

Schmitt has served as a Director on the Ferguson plc Board of Directors since 2019, and from 2015 to 2019, he served on the board of Cyberport GmbH in Dresden, Germany.  From 2014 and 2018 Schmitt was a Director on the Board of Dicom Transportation Group in Montreal, Canada; from 2013 to 2016, was a Director on the Board of Zooplus AG; and from 2008 to 2013, as a Director of the Board of Univar, Inc.  

Schmitt is a strong believer in community engagement, and served as Chair of the Memphis Chamber, as well as on the boards of Ballet Memphis and Shelby Farms Park.

He holds an MBA as a Baker Scholar from Harvard Business School and a Bachelor of Arts in European Business Administration, First Class Honours, from Middlesex University. In 2006, Schmitt was co-author of "Simple Solutions," a guide to management and leadership.

ABOUT NIKOLA CORPORATION:
Nikola Corporation's mission is clear: pioneering solutions for a zero-emissions world. As an integrated truck and energy company, Nikola is transforming commercial transportation, with our Class 8 vehicles, including battery-electric and hydrogen fuel cell electric trucks, and our energy brand, HYLA, driving the advancement of the complete hydrogen refueling ecosystem.

Nikola headquarters is based in Phoenix, Ariz. with a manufacturing facility in Coolidge, Ariz.

Experience our journey to achieve your sustainability goals at nikolamotor.com or engage with us on social media via Facebook @nikolamotorcompany, Instagram @nikolamotorcompany, YouTube @nikolamotorcompany, LinkedIn @nikolamotorcompany or Twitter @nikolamotor.

FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements within the meaning of federal securities laws with respect to Nikola Corporation (the "Company"), including statements relating to: the Company's beliefs regarding the potential benefits of Mr. Schmitt joining the Company's executive management team; Mr. Schmitt's ability to help drive forward Nikola's strategic and operational goals; Mr. Schmitt's role in solidifying the Company's foundation for success as it works to reshape the trucking industry and drive decarbonization forward; Mr. Schmitt's ability to help align the Company's commercial efforts to scale its business; and Nikola's position at the forefront of a transformative industry. These forward-looking statements generally are identified by words such as "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: risks related to the rollout of the Company's business and milestones and the timing of expected business milestones; and the factors, risks and uncertainties regarding the Company's business described in the "Risk Factors" section of the Company's annual report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission (the "SEC"), in addition to the Company's subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause the Company's actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

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SOURCE Nikola Corporation

FAQ

Who is the new Chief Commercial Officer of Nikola (NKLA)?

Thomas "Tom" Schmitt has been appointed as the new Chief Commercial Officer of Nikola (NKLA).

What are Tom Schmitt's responsibilities as CCO of Nikola (NKLA)?

As CCO of Nikola (NKLA), Tom Schmitt will oversee sales, commercial operations, dealerships, service, customer success, and marketing functions to scale the company's business.

What is Nikola 's (NKLA) main focus according to the press release?

Nikola (NKLA) is focused on zero-emissions transportation and energy supply and infrastructure solutions, particularly in decarbonizing the trucking industry.

What is Tom Schmitt's background before joining Nikola (NKLA)?

Tom Schmitt has over 35 years of transportation leadership experience, including roles as CEO of Forward Air, CCO of Schenker, CEO of Purolator and FedEx Supply Chain.