EV Maker Nikola Rejects Convicted Founder Trevor Milton's Plan to Add 5 Board Members
Nikola rejected Milton's M&M Residual's five board nominees, saying they would add 'no skills or experience'. Nikola Corp. said Friday that it has rejected the five "dissident" nominees to its eight-member board of directors - nominees proposed by M&M Residual LLC, the entity of the founder of the hydrogen- and electric-truck maker Trevor Milton."The director nominees have no public company experience, add no skills or experience to the board, and indisputably lack the depth of experience that the current Nikola board members bring to the company," Nikola's board said in a statement."Mr. Milton is separated from the Company entirely and has had zero involvement in Nikola's day-to-day operations since September of 2020; however, Nikola continues to suffer harm created by Mr. Milton's business decisions from over three years ago in his role as rounder and executive chairman," Nikola said.While Milton was found liable in October 2023 in an arbitration with the company, and ordered to pay