Hyperdrive
Ousted Nikola Founder Urges Leadership Change at EV Maker
- Trevor Milton appeals to shareholders in social-media posts
- Ex-leader was found guilty of securities fraud last year
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Nikola Corp. founder Trevor Milton called for leadership change at the electric-truck maker and urged shareholders to vote against company-backed proposals in his first social-media posts in years.
Milton, who was convicted of securities fraud last year, said in identical posts Thursday on his Instagram and LinkedIn pages that he voted about 50 million of his shares against all proposals from next month’s annual shareholder meeting. He said investors should also vote “no” to reelecting directors and a measure to allow the issuance of new shares.