Sweden's Einride taps Anubhav Verma as CFO ahead of US debut

Reuters11-24

Sweden's Einride taps Anubhav Verma as CFO ahead of US debut

Nov 24 (Reuters) - Swedish self-driving truck company Einride on Monday named outsider Anubhav Verma as its chief financial officer, ahead of its expected public listing in the U.S. early next year.

Verma has been the CFO of sensor manufacturer MicroVision MVIS.O since 2021. Prior to that, he was senior vice president of finance at business software provider Exela Technologies XELA.PK, where he led a $2.8 billion SPAC reverse merger.

"Anubhav's experience in leading a multi-billion-dollar SPAC combination and cross-border expansion in automotive and industrial sectors directly aligns with our growth strategy as we prepare to make our public market debut," Einride CEO Roozbeh Charli said.

Einride said earlier this month it would list in the U.S. through a merger with blank-check firm Legato Merger Corp III LEGT.A, in a deal valuing the company at $1.8 billion.

A SPAC, or special purpose acquisition company, is a shell firm that raises money through an IPO to merge with a private business and take it public, providing a quicker route to market than a traditional IPO.

(Reporting by Anhata Rooprai in Bengaluru and Marie Mannes in Stockholm; Editing by Shreya Biswas)

((Anhata.Rooprai@thomsonreuters.com))

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