Nikola shares rise by 25% after asserting the brand new COO

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Nicola

The inventory rose by double digits on Monday after the electrical truck startup introduced a brand new addition to its management group.

Nikola (ticker: NKLA) has appointed Mary Chan as Chief Working Officer. Chan beforehand labored as a managing companion at a consulting agency VectoIQ, which helped with Nikola’s public launch, in line with the corporate. She has additionally beforehand held roles in

Basic Motors

(JM) W

Dale

(Dale). She’s going to take up the position on October 9.

“Mary has a powerful understanding of the enterprise, in addition to intensive know-how and transportation expertise, spanning engineering and administration,” mentioned VectoIQ CEO Steve Girsky, who additionally serves as VectoIQ Managing Associate.

Nikola shares rose greater than 25% to $1.49 on Monday after the information. The inventory is down 31% over the 12 months.

Final week, administration mentioned the corporate ought to start deliveries of its hydrogen gasoline cell-powered heavy-duty vehicles in late September and early October.

Write to Emily Dattilo at emily.dattilo@dowjones.com