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Nicola named Thomas Okray as its new CFO, the the company announced March 4.
The hydrogen fuel cell and electric truck maker will leverage Okray’s automotive and energy management experiences as it scales up production of its zero-emissions vehicles, according to the announcement.
“Attracting someone of his stature is a testament to the exciting journey Nicola is on,” said President and CEO Stephen Girsky. “Tom’s depth of financial expertise, cultivated over four decades, will play a critical role as we expand our offering to build and profitably scale our business.”
Girsky has served as acting CFO since February 14 following the December departure of Anastasiya “Stasy” Pasterick, who left to become Universal Hydrogen’s CFO.
In addition to the role of CFO, Okay will also serve as Nikola’s chief financial officer and chief accountant, effective March 4.
As part of an executive employment contract, Okay will receive an annual base salary of $695,000, as well as 300,000 restricted stock units and 600,000 performance stock unit awards, according to March 3 Deposit of the Capital Market Commission.
Nikola’s agreement with Okray also includes a one-time taxable relocation bonus of $20,000 along with reimbursement of relocation-related expenses.
During his four-decade career, Okray held executive roles with Grainger and Advance Auto Parts. His most recent job was with electronics and machinery manufacturer Eaton where he served as EVP and CFO.
Okray also worked for General Motors, where he spent time as CFO of global product development and supply chain. In addition, he was CFO of global product development, executive director of product development in Asia and Europe, and vice president of the Fiat-GM Powertrain Opel joint venture.
Okray’s focus now is to help guide Nikola as he ramps up production.
“The scaling up of zero emission technology at Nikola is something I want to be a part of,” he said.