(Reuters) -Electric truck maker Nikola said on Friday that Michael Lohscheller will step down as chief executive officer less than a year after taking over the job and would be replaced by Stephen Girsky at the end of the month.
Shares of the Phoenix, Arizona-based company fell more than 7% in trading before the bell.
Girsky, who is currently the company’s chairman, will be Nikola’s fourth CEO in as many years. His appointment comes as the company turns its focus to fuel-cell-powered electric trucks.
Separately, Nikola reported a narrower second-quarter loss as lower production of its Tre battery-electric trucks in the April-June period helped keep costs in check.
Lohscheller has decided to step down due to a family health matter and will be returning to Europe, the company said, adding that he would remain in an advisory capacity through the end of September.
(Reporting by Akash Sriram in Bengaluru; Editing by Anil D’Silva)
