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Nikola Corp's Trevor Milton steps down as executive chairman

Credit: REUTERS/MASSIMO PINCA

U.S. electric-truck maker Nikola Corp's founder and executive chairman Trevor Milton has stepped down, the company said on Sunday, as it battles allegations from a short-seller that it misled investors and automakers.

Adds details on chairman change, background

Sept 21 (Reuters) - U.S. electric-truck maker Nikola Corp's NKLA.O founder and executive chairman Trevor Milton has stepped down, the company said on Sunday, as it battles allegations from a short-seller that it misled investors and automakers.

Milton approached the board and proposed to voluntarily step aside, and Stephen Girsky has been named as chairman, effective immediately, the company said.

Short-seller Hindenburg Research alleged the company misled investors and large automakers over its technology in a scathing report that had sent Nikola's shares lower.

(Reporting by Rama Venkat in Bengaluru; Editing by Shounak Dasgupta)

((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607))

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