Nikola board rejects slate of directors nominated by Trevor Milton

Nikola said that its Board of Directors has rejected a slate of five dissident nominees proposed by an entity controlled by former Executive Chairman Trevor Milton for election as directors at Nikola’s 2024 Annual Meeting of Stockholders. On January 26, Nikola received a notice from M&M Residual, Milton’s entity, declaring its intent to nominate a slate of five directors for its eight-member board: Cole Cannon, Derek Johnson, Hans Peterson, Paul Southam and Dave Sparks. The Board of Directors reviewed the director nominees and rejected the slate and does not endorse their nomination. 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. Additionally, it is the company’s belief that the director nominees lack the expertise or knowledge needed to navigate the complexities of a zero-emissions trucking and energy infrastructure business.