executive changes

TuSimple stock delisted from Nasdaq due to unfiled financial reports

TuSimple shares will vanish from the Nasdaq on Monday. The one-time leader in autonomous trucking software failed to file two corporate financial reports for 2022 on time.

It is the latest setback for the San Diego-based startup. TuSimple led the way to public trading among autonomous trucking software competitor. Its April 2021 initial public offering was priced at $40 a share.

Reputation damage takes its toll on TuSimple

Investors have shunned the stock amid a series of blunders that included...

https://www.freightwaves.com/news/tusimple-stock-delisted-from-nasdaq-due-to-unfiled-financial-reports

Sensor analytics for robotic trucks could provide reverse benefit

Back in February, the predictive analytics software experts at Uptake cut a deal with Daimler Truck to use its data-as-a-service model to tell when any of 160 possible faults and failures could happen. This could result in huge savings for fleets adding the software.

How would this play out for driverless trucks.

“You’re going to see a greater amount of sensor data and information coming out of each one of these trucks,” said Jim Lowell, vice president of technology for Chicago-based Uptake....

https://www.freightwaves.com/news/sensor-analytics-for-robotic-trucks-could-provide-reverse-benefit

Nikola seeks to double shares to keep business going

Financially struggling Nikola Corp. will ask its shareholders in June to double to 1.6 billion the company’s authorized shares. The electric truck and hydrogen maker said it needs to repay hedge fund loans.

The request, Proposal 2, is on the ballot for Nikola’s June 7 shareholder meeting. It is three times larger than the 33% share authorization increase that took four tries to pass in 2022. Current shareholders could ultimately see the value of their already depressed shares cut in half.

“Withou...

https://www.freightwaves.com/news/nikola-seeks-to-double-shares-to-keep-business-going

Exclusive: TuSimple needs to win markets, customers as it stabilizes

TUCSON, Ariz. — Cheng Lu mostly watched from the sidelines for seven months as autonomous trucking startup TuSimple nearly imploded from the pressure of internal politics and external investigations. Upon returning as CEO in November after being ousted in an awkward succession, Lu quickly assessed the state of affairs and moved to stabilize the company.

So how is that going?

In his first public interview since being rehired to the top management post, Lu told FreightWaves that TuSimple is making...

https://www.freightwaves.com/news/exclusive-tusimple-needs-to-win-over-markets-customers-as-it-regains-stability

Current TuSimple employees discuss their work after mass layoffs

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

TUCSON, Ariz. — TuSimple leaders asked Charles Minear for his take on which of his electrical...

https://www.freightwaves.com/news/current-tusimple-employees-discuss-their-work-after-mass-layoffs

Amid financial peril, Nikola changes CFO

Nikola Corp. Chief Financial Officer Kim Brady will retire in April as the electric truck maker’s finances raise survivability questions.

Brady, 59, served five years as CFO. He was instrumental in Nikola going public in June 2020 in a reverse merger with special purpose acquisition company VectoIQ. Steve Girsky, the CEO of the automotive technology consultancy, is chairman of Nikola’s board.

Anastasiya “Stasy” Pasterick, currently Nikola vice president and corporate controller, will succeed...

https://www.freightwaves.com/news/amid-financial-peril-nikola-changes-cfo

TuSimple co-founder quits board as it probes employee poaching

In just over a year, TuSimple co-founder Xiaodi Hou proclaimed himself CEO of the autonomous trucking startup, was fired by independent directors, and now has quit the board over rumors he sought TuSimple employees to join him in a new company.

In a two-sentence 8-K filing with the Securities and Exchange Commission on Monday, TuSimple said Hou had resigned “effective immediately.” Hou co-founded the company in 2015 and previously served as chief technology officer. 

Prior to Hou’s resignation,...

https://www.freightwaves.com/news/tusimple-co-founder-quits-board-over-employee-poaching-investigation

Japanese truck maker Hino gets 1st American president and chairman

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

The U.S. unit of Japanese manufacturer Hino Trucks has appointed its first American-born president...

https://www.freightwaves.com/news/japanese-truck-maker-hino-gets-1st-american-president-and-chairman

Former USA Truck CEO takes COO role at Kodiak Robotics

MOUNTAIN VIEW, California — Some cajoling before a let’s-make-a-deal barbecue dinner in Fort Smith, Arkansas, persuaded James Reed to take his technical credentials — unparalleled among trucking company chief executives — back to Silicon Valley.

Reed led a turnaround as CEO of USA Truck for six years before its sale to German logistics giant D.B. Schenker in September. He is trucking’s first C-suite executive to take a leading role at an autonomous trucking startup, joining Kodiak Robotics as...

https://www.freightwaves.com/news/former-usa-truck-ceo-takes-coo-role-at-kodiak-robotics

TuSimple lays off 350 employees as its fortunes worsen

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

TuSimple Holdings laid off 350 employees — 25% of its workforce — on Wednesday, the latest blow to...

https://www.freightwaves.com/news/tusimple-lays-off-350-employees-as-its-fortunes-worsen

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.