Nikola (NKLA) has released an update to notify the public and investors about its officers.
Nikola Corporation promoted Dirk Ole Hoefelmann to President of Energy, effective February 5, 2024. Hoefelmann, with experience at HYLA, Plug Power Inc., and Air Liquide, will have a $600,000 annual salary, potential stock options, and an equity incentive program. His executive employment agreement includes a confidentiality clause and post-termination covenants. If terminated, Hoefelmann could receive severance pay, COBRA benefits, and accelerated equity awards, depending on the timing of termination. No family ties or material interests conflict with this appointment. Former President Joseph S. Cappello will remain until March 1, 2024, with severance as per his agreement.
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For a comprehensive understanding of the announcement, you can read the full document here.
