Nikola named Thomas Okray as its new CFO, the company announced March 4.
The hydrogen fuel cell and electric trucks maker will tap Okray’s experiences in the automotive and power management sector as it scales production of its zero-emission vehicles, according to the announcement.
“Attracting someone of his caliber is a testament to the exciting journey Nikola is on," President and CEO Stephen Girsky said in a statement. "Tom's depth of financial expertise, cultivated over four decades, will play a crucial role as we expand our supply base and profitably scale our business.”
Girsky had been serving as acting CFO since Feb. 14 following the departure of Anastasiya “Stasy” Pasterick in December, who left to become CFO of Universal Hydrogen.
In addition to the CFO role, Okray will also serve as Nikola's principal financial officer and principal accounting officer, effective March 4.
As part of an executive employment agreement, Okray 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 a March 3 Securities and Exchange Commission filing.
Nikola’s agreement with Okray also includes a one-time taxable relocation bonus of $20,000 along with reimbursement of expenses associated with relocating.
Over his four-decade career, Okray held executive roles with Grainger and Advance Auto Parts. His most recent job was with electronics and machinery maker 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. Additionally, he was CFO of global product development, executive director of product development in Asia and Europe and vice president of the Fiat-GM Powertrain joint venture Opel.
Okray’s focus now is to help guide Nikola as it ramps up production.
"Scaling the zero-emissions technology at Nikola is something I want to be a part of," he said.
