Fisker Names Former Chrysler CEO As Their New CEO

William Maley

Editor/Reporter - CheersandGears.com

February 28, 2012

To say Fisker Automotive has been living in interesting times could be an understatement. Their first vehicle, the Karma only starting arriving back in December, when it was actually due out months earlier. Then in February, the company halted work on the Nina family sedan at their Wilmington, Del plant. That was due to them and Department of Energy hashing out new terms of a $529 million loan.

Now, Fisker has announced that board member and vice chairman Tom Lasorda will become their new CEO.

Lasorda, a former CEO, President and Vice Chairman of the Chrysler Group joined Fisker last December.

“I am delighted to be assuming such a central role at this exciting time in Fisker Automotive’s history,” said LaSorda in a press release.

As for Henrik Fisker, he will assume the role of Executive Chairman.

Press Release is on Page 2

Anaheim, California USA – February 28, 2012: Fisker Automotive is pleased to announce that, effective immediately, Co-Founder Henrik Fisker will become Executive Chairman of the company, and Tom LaSorda is appointed CEO and Vice Chairman of the Board, with full responsibility for the running of the company’s day to day operations.

Henrik Fisker, who co-founded Fisker Automotive in 2007 after an illustrious design career at brands including BMW and Aston Martin, will focus on building the Fisker brand in global markets and the styling and design of future Fisker models.

“We have created a new automotive company, launched a new Electric Vehicle extended range technology and brought the Fisker Karma to market successfully in a remarkably short timeframe,” says Henrik Fisker.

“The Fisker Karma is the first car designed and engineered in America to win BBC Top Gear’s prestigious Luxury Car of the Year Award, as well as numerous other accolades, and that is something of which I am immensely proud.”

“I am looking forward to working closely with Tom as we steer the company into its future as an iconic global automotive brand with a range of desirable cars that offer environmentally responsible luxury.”

Tom LaSorda, who joined the company as Vice Chairman of the Board and executive advisor to the management team in December, will assume full CEO responsibilities and day to day operational management.

A well-known industry executive, with more than 30-years experience, LaSorda was a former CEO, President and Vice Chairman of the Chrysler Group and also held a number of executive positions at General Motors over a 23 year career.

“I am delighted to be assuming such a central role at this exciting time in Fisker Automotive’s history,” says LaSorda.

“The Fisker Automotive team has designed and engineered a great range-extended electric car with industry leading technology and it gives me great pleasure to be working together with the co-founders, Henrik Fisker and Barny Koehler to build Fisker Automotive into a global automotive company.”

“As part of our future strategy, we will be seeking strong partnerships and alliances as Fisker continues to grow as a brand.”

With the re-organization, Chairman of the Board, Ray Lane will assume a lead director role, as Henrik Fisker takes on the Executive Chairman role.

“Ray has been an invaluable guide and help to us as we have grown this company and its financial strength over the past few years. For a company to raise over $860m of private equity is a remarkable achievement and Ray’s support and guidance has been a key factor in that,” remarks Henrik Fisker.

“I am looking forward to working with the new leadership team as we move to the next level in the company’s history,” says Ray Lane.