Jack Allen to Retire as Proterra Board Chairman at the Annual Meeting of Stockholders; Roger Nielsen Appointed as Successor
May 11 2023 - 5:07PM
Proterra Inc (NASDAQ: PTRA), a leading innovator in commercial
vehicle electrification technology, today announced that Jack
Allen’s term as Non-Executive Chairman and Member of Proterra’s
Board of Directors will expire at the company’s annual
stockholders’ meeting and he will retire from the Board.
Proterra’s Board of Directors has reduced the size of the board
from nine to eight directors effective upon the expiration of Mr.
Allen’s term, and appointed Roger M. Nielsen as the company’s new
Chairman of the Board, as of the annual meeting.
Mr. Allen joined Proterra’s Board of Directors in 2017 after
more than 30 years at Navistar International, the global truck and
bus company. In addition to his role as Board Chairman, Mr. Allen
served as Proterra’s Chief Executive Officer from March 2020
through December 2021. Mr. Allen subsequently assumed the role of
Non-Executive Chairman on Proterra’s Board of Directors following
his retirement as Proterra CEO in late 2021.
Roger Nielsen was appointed to the Proterra Board of Directors
in 2022 following his retirement from Daimler Truck, a leading
global commercial vehicle manufacturer after a 35-year career that
included serving as President and CEO of Daimler Truck North
America. As a Proterra Board Director, Mr. Nielsen also serves
on its Audit Committee.
“It has been a privilege to serve on the Proterra board, and
alongside the company’s many employees who are redefining the
commercial vehicle market with innovative EV technology solutions.
Proterra is at the forefront of commercial vehicle electrification
and I have every confidence that Proterra and its management will
continue to lead the industry towards a zero-emission future,” said
Mr. Allen.
“The Board would like to thank Jack for his leadership and
service to Proterra. With Jack’s guidance, Proterra has established
itself as a technology leader in the rapidly growing market for
zero-emission transportation. This includes leading the company
through our public listing in 2021 while also navigating the early
days of the COVID-19 pandemic. Roger is a proven leader in the
commercial vehicle market, and the Board agrees that his strong
track record in advanced manufacturing, product management,
strategy and operational excellence will further Proterra’s mission
as we enter a new era for transportation electrification,” said
Proterra CEO Gareth Joyce.
“I am honored to step into the role of Proterra Board Chair, and
to build on the legacy that Jack leaves behind. This is a time of
great transformation and opportunity across the commercial vehicle
landscape. Proterra sits at the heart of the rapid shift towards
electrification, and I look forward to working with the Proterra
Board to advance the company’s important mission,” said Mr.
Nielsen.
About ProterraProterra is a leader in the
design and manufacture of zero-emission electric transit vehicles
and EV technology solutions for commercial applications. With
industry-leading durability and energy efficiency based on rigorous
U.S. independent testing, Proterra products are proudly designed,
engineered, and manufactured in America, with offices in Silicon
Valley, South Carolina, and Los Angeles. For more information,
please visit www.proterra.com
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements include, but are not limited
to, statements regarding the market for commercial vehicle
electrification, Proterra’s expected position within that market,
and Proterra’s expected future performance. Forward-looking
statements are predictions and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to significant risks and uncertainties. Many
factors could cause actual future events to differ materially from
the forward-looking statements in this press release, including
risks and uncertainties set forth in Proterra’s filings with the
SEC, including Proterra’s Quarterly Report on Form 10-Q filed with
the SEC on May 10, 2023. The forward-looking statements included in
this press release speak only as of the date they are made. Readers
are cautioned not to put undue reliance on forward-looking
statements, and Proterra assumes no obligation and does not intend
to update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise. Proterra
does not give any assurance that it will achieve its
expectations.
Investor Contact
Proterra Investor Relations
IR@proterra.com
Media Contact
Proterra Corporate Communications
PR@proterra.com
Proterra (NASDAQ:PTRA)
Historical Stock Chart
From Apr 2024 to May 2024
Proterra (NASDAQ:PTRA)
Historical Stock Chart
From May 2023 to May 2024