:Workhorse Group said on Thursday two of its top executives, including finance chief Steve Schrader, have left the company, just a week after it suspended deliveries of its flagship C-1000 electric van.
Greg Ackerson has been appointed interim CFO.
The company said Chief Operating Officer Rob Willison has also departed, and it was eliminating the role.
Last week, the company said it would suspend the deliveries of its flagship C-1000 electric van, saying more tests and modifications were needed to ensure it complies with regulatory standards.
The company is also said to be under a probe by the U.S. Securities and Exchange Commission, according to a letter from the regulator published by a short seller this month.
However, the company clarified Schrader’s departure was not based on any on any disagreement with the company’s accounting principles or practices or financial statement disclosures.
(Reporting by Eva Mathews in Bengaluru; Editing by Shailesh Kuber)