Mullen Automotive (NASDAQ:MULN) has appointed a new Chief Strategy Officer to strengthen the company.
The company announced on Monday that Marianne McInerney will focus on growth opportunities and drive strategic initiatives for Mullen’s commercial, consumer vehicles and governmental affairs.
“McInerney has been immersed in the automotive and transportation industry for almost two decades during which she has advised multiple OEMs, governmental entities and tier one suppliers.
Prior to Mullen, McInerney held key roles at next-generation vehicle OEMs, the U.S. Department of Transportation, and the American International Automobile Dealers Association.
McInerney served as Assistant Secretary and Director of Public Affairs for the U.S. Department of Transportation under Secretary Elaine L. Chao.
In her role with Mullen, Marianne will focus on sales, marketing and growth opportunities with Mullen’s commercial and passenger vehicle programs, and overall strategic business opportunities for the company.
She will also oversee all state and federal governmental affairs for the company,” the company stated.
“Mullen is a strategically driven organization and its product line of advanced EVs for both commercial and consumer audiences are unrivaled,” said McInerney, Chief Strategy Officer of Mullen Automotive.
“When I combine Mullen’s product innovation and strategy with their U.S. assembly and manufacturing facilities and well-curated team, Mullen has a competitive EV story and I am excited to put my experience and relationships with fleets and dealers to drive value across the organization.”
“Marianne is a key addition to our team and her leadership and experience will set a growth strategy to expand and drive strong top and bottom-line impacts for Mullen at the commercial, consumer and governmental levels.
She brings a vast level of domestic and international OEM experience and will deliver innovative strategies to strengthen our market share globally,” said David Michery, CEO and chairman of Mullen Automotive.
Other Mullen News Today
Mullen Automotive on Friday shared a new update on the company’s notice of delisting.
On October 3, 2023, the Company received an additional written notice from the Staff indicating that the Staff had concluded that the Company did not hold an annual meeting in the fiscal year ended September 30, 2023, that met the Nasdaq annual meeting standard.
While the Company held an annual meeting on August 3, 2023 and the proposals that were approved at the meeting including the election of directors are, and remain, valid, the Staff determined that such meeting did not satisfy the Annual Meeting Rule since the Company did not afford stockholders the opportunity to discuss Company affairs with management at the meeting as required under Nasdaq Listing Rule IM-5620.
The Company will present its plan to demonstrate compliance with the Annual Meeting Rule at the previously scheduled Bid Price Rule hearing and the Panel will consider this matter in their decision regarding the Company’s continued listing on The Nasdaq Capital Market.
CEO David Michery said in September that the company’s balance sheet is strong in a new update to shareholders.
MULN stock is up more than +2% in the past month but down more than -99% this year-to-date.
“I am very disappointed by the performance of our stock.
As I have previously publicly stated, I do not believe the trading price of our stock even closely resembles the Company’s actual value.
It is evident that, regardless of meeting significant corporate milestones, stock traders continue to place downward pressure on the stock, causing the price to fall.
I previously announced that the Company engaged Share Intel and other parties to investigate what I suspect to be unlawful trading practices in our stock,” the CEO said in August.
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