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The Wall Street Journal: Lordstown Motors hires former investment banker Adam Kroll as CFO

Lordstown Motors Corp.
RIDE,
+2.15%

 has hired a new finance chief, a move that comes as the electric-truck startup works to evaluate new financing options and bring its first pickup to market.

The Lordstown, Ohio-based company on Wednesday named 46-year-old Adam Kroll as its chief financial officer, effective Oct. 25. Kroll, a former investment banker, most recently served as chief administrative officer of Hyzon Motors Inc.
HYZN,
-1.45%
,
a supplier of hydrogen-powered commercial vehicles, from March through July.

He previously worked as interim CFO at UPG Enterprises LLC, a family office, from October 2020 to January. Before that, he spent five years at event-technology provider PSAV Holdings, where he served as treasurer, head of corporate development and senior vice president of finance. Kroll from 2007 to 2015 worked as an executive director at JPMorgan Chase & Co.
JPM,
-2.64%

and advised companies in the automotive sector on capital markets and loan transactions as well as mergers and acquisitions.

Kroll is set to replace Lordstown’s interim CFO, Rebecca Roof, who has been in the position since June. Former finance chief Julio Rodriguez and Steve Burns, the former chief executive, stepped down that month after a board committee found that parts of Lordstown’s disclosures about preorders for its trucks were inaccurate.

An expanded version of this report appears on WSJ.com.

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