Nikola Corp. is rejecting a group of board nominees proposed by the company’s founder and former CEO, Trevor Milton, who was sentenced to federal prison for fraud in December.
Nikola on Friday said it received a notice last month from M&M Residual — a business entity controlled by Milton — announcing intentions to nominate five directors at Nikola’s 2024 annual shareholders meeting.
Milton’s nominees include Cole Cannon, Derek Johnson, Hans Peterson, Paul Southam, and Dave Sparks, star of reality show “Diesel Brothers,” which aired on the Discovery Channel for eight seasons.
The Phoenix-based electric truck maker’s existing board said it reviewed Milton’s nominees and rejected the group, based on "a lack of public company experience.”
