Workhorse Group Appoints Bill Quigley to Board of Directors

Rhea-AI Summary

Workhorse Group Inc. (NASDAQ: WKHS) has appointed William Quigley to its board of directors effective February 23, 2022. Quigley brings over 30 years of automotive and finance experience, having held senior positions at Nexteer Automotive, Dana Holding, and Visteon. He will also serve on the audit committee, bringing valuable financial acumen to the board composed of nine directors, eight of whom are independent. Quigley aims to leverage his expertise to enhance Workhorse's operations in the last-mile delivery sector.

Positive

• Appointment of William Quigley adds extensive automotive and financial experience.
• Quigley’s background in managing operations at tier one suppliers may strengthen Workhorse's governance.

Negative

• Potential concerns about the continuity and integration of new board members.

CINCINNATI, Feb. 23, 2022 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (NASDAQ: WKHS) (“Workhorse” or “the Company”), an American technology company focused on providing sustainable and cost-effective electric vehicles to the last mile delivery sector, has appointed senior automotive and finance veteran William (“Bill”) Quigley to its board of directors, effective February 23, 2022. Quigley has also been named a member of the Company’s audit committee. With this addition, Workhorse’s board composition has increased to nine total directors, eight of whom are independent.

Quigley brings more than three decades of financial and operating experience in the automotive and manufacturing industries as well as prior board-level tenure to Workhorse. He most recently served as Senior Vice President and Chief Financial Officer of Nexteer Automotive Group Limited, a tier one automotive supplier operating from 27 manufacturing facilities and three global technical centers with over 12,000 employees. Quigley has also previously held positions as Executive Vice President and Chief Financial Officer at Dana Holding Corporation and Visteon Corporation. Since 2016, he has served as a member of the board of directors and chair of the audit committee at Cadre Holdings Inc., a global leader in the manufacturing and distribution of safety and survivability equipment for first responders.

Quigley holds a B.A. in Accounting from Michigan State University and is a Certified Public Accountant In the state of Michigan.

“On behalf of the Workhorse senior leadership team, I’d like to formally welcome Bill Quigley to our board,” said Company CEO Rick Dauch. “While Bill has direct operating experience in management-level roles at several tier one automotive suppliers as well as strategic partners, his addition also provides our organization with extensive financial and accounting acumen from managing similar operations at scale. Put simply, Bill possesses the perfect blend of characteristics that can help Workhorse on its path at our current stage of development. We look forward to benefitting from his unique corporate governance and leadership qualities.”

Quigley added: “Workhorse has a unique opportunity to make a material impact within the last-mile delivery sector, and I’m looking forward to help guide the team to achieve its mission. My experience in implementing scalable team structures and financial controls at other leading automotive tier one suppliers should help us to see around corners more effectively in the months and years ahead. Scaling a commercial EV operation from the ground up is a tremendous undertaking, but I believe we have the team, resources, and roadmap to get there.”

About Workhorse Group Inc.
Workhorse is a technology company focused on providing drone-integrated electric vehicles to the last-mile delivery sector. As an American original equipment manufacturer, we are focused on designing and building high performance, battery-electric vehicles including trucks and aircraft. Workhorse also develops cloud-based, real-time telematics performance monitoring systems that are fully integrated with our vehicles and enable fleet operators to optimize energy and route efficiency. All Workhorse vehicles are designed to make the movement of people and goods more efficient and less harmful to the environment. For additional information visit workhorse.com.

Investor Relations Contact:
Matt Glover and Tom Colton
Gateway Investor Relations
949-574-3860
WKHS@gatewayir.com

FAQ

What role did William Quigley take on at Workhorse Group?

William Quigley has been appointed to the board of directors and will be a member of the audit committee.

What is William Quigley's experience relevant to Workhorse Group?

Quigley has over 30 years of experience in the automotive industry, including roles at Nexteer Automotive and Dana Holding.

When did the appointment of William Quigley to the Workhorse board become effective?

The appointment became effective on February 23, 2022.

How many directors are on Workhorse Group's board after the new appointment?

With Quigley's appointment, Workhorse's board now consists of nine directors, eight of whom are independent.

What impact does Quigley aim to have at Workhorse Group?

Quigley aims to guide the company in the last-mile delivery sector and implement scalable structures and financial controls.