Lightning eMotors Announces CFO Transition

Lightning electric motorsa provider of zero-emission medium-duty commercial vehicles and electric vehicle technology for fleets, announced that Chief Financial Officer (CFO) Teresa Covington is retiring, effective October 2. She will continue to be available to the company as needed through March 31, 2023.

“Since joining the Lightning team early last year, Teresa has built a strong finance and accounting organization, establishing strong internal controls and financial planning and analysis processes over a period of criticism of the company’s history,” said Tim Reeser, CEO of Lighting eMotors. “Her leadership, work ethic, and experience in public companies set the foundation for the financial rigor and systems that are critical to Lightning’s success as we continue to grow the business. I want to thank Teresa for everything her work and wish her the best as she embarks on a new chapter in her life.

“It was a privilege to work alongside Tim and the Lightning management team as we built a strong business, introduced new products and invested in the future. I am delighted to see the business continue to grow and prosper and am invested in ensuring a smooth transition,” Covington said.

The company also announced that David Agatston has been named to succeed Covington as chief financial officer, effective October 3. Agatston has over 25 years of experience in positions in finance, strategic analysis and business development. Most recently, he provided consulting services to CFOs as the founder of Devil’s Peak Consulting, and prior to that he was a divisional CFO for Zayo Group, a provider of critical communications infrastructure for enterprises with high bandwidth requirements. Agatston holds a degree in Electrical and Biomedical Engineering from Duke University and an MBA from the University of Virginia.

Reeser continued, “We are excited to welcome an experienced business leader who will continue the progress already underway at Lightning. David’s proven track record of financial excellence will be essential as we work together to accelerate the company’s growth and drive it to profitability. »

“I am excited to join Lightning eMotors and work with the team to execute the company’s strategic plan, accelerate growth and increase shareholder value,” added Agatston. “I embrace Lightning’s vision of an emission-free future for commercial vehicles, and I look forward to helping the company realize that vision. »

Robert M. Larson