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6/14, 1:46 PM (Source: TeleTrader)
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Lordstown Motors plunges 12% as CEO, CFO resign

Lordstown Motors Corp. announced on Monday that the truck maker's Chief Executive Officer Steve Burns and Chief Financial Officer Julio Rodriguez have resigned.

The action comes just two days after the American company warned it might shut its business within the next year due to not having enough funds to start commercial-scale production and sales of its Endurance pickup truck.

Becky Roof has been named as Lordstown's interim chief financial officer. Meanwhile, the company's shares plunged nearly 12% in premarket trading following the announcement.

Breaking the News / ND