Nikola founder Trevor Milton at the groundbreaking for the company's factory in Coolidge, Arizona, ... [+] in July. “I asked the Board of Directors to let me step aside from my roles as Executive Chairman and a member of the Nikola Board of Directors,” Milton tweeted late Sept. 20. Nikola was stung by accusations of fraud and misrepresentation in a Sept. 10 report by Hindenburg Research, a financial research firm run by analyst Nate Anderson. Nikola contacted the Securities and Exchange Commission about the report and both it and the Justice Department are reportedly reviewing the company. “When you build a team as a leader, you have to remember that you are the least important person,” Milton said.

Source: Forbes September 21, 2020 05:44 UTC