Bloomberg News

Fisker Hires Former Ford, Dana Executive Yost as CFO

July 03, 2012

(Corrects name of Dana Holding Corp. (DAN:US) in first paragraph of story published July 2.)

Fisker Automotive Inc., a maker of luxury plug-in hybrid cars, hired a former Ford Motor Co. (F:US) and Dana Holding Corp. executive as its chief financial officer as the company works to overcome funding and quality challenges.

Jim Yost, who was CFO for auto-parts maker Dana from 2008 until May, takes on the same job for Anaheim, California-based Fisker, the carmaker said in a statement today. Yost will report to Chief Executive Tom LaSorda and Henrik Fisker, Fisker’s executive chairman and co-founder.

“Jim’s extensive financial, operational and strategic skills as well as international experience will be a tremendous asset as we continue to expand the global reach of the Karma sedan and prepare the path for the next-generation Atlantic sedan’” LaSorda said in the statement.

Yost’s hiring follows the appointment in February of LaSorda, a former CEO of the predecessor of Chrysler Group LLC, as Fisker turns to auto industry veterans to aid operations. The closely held company that received $529 million in U.S. loans to engineer and build rechargeable cars, is fixing battery-pack glitches in its Karma model and trying to regain access to federal funds for a Delaware factory after missing delivery deadlines.

Yost will replace Joe DaMour, who remains a special adviser to the company, said Russell Datz, a spokesman for Fisker, by telephone. Yost began his career at Ford, where he worked for 27 years, serving in senior- and executive-level finance roles in North America, Europe and South America, Fisker said in the statement.

To contact the reporter on this story: Alan Ohnsman in Los Angeles at aohnsman@bloomberg.net

To contact the editor responsible for this story: Bill Koenig at wkoenig@bloomberg.net


Best LBO Ever
LIMITED-TIME OFFER SUBSCRIBE NOW

Companies Mentioned

  • DAN
    (Dana Holding Corp)
    • $21.8 USD
    • -0.31
    • -1.42%
  • F
    (Ford Motor Co)
    • $16.59 USD
    • -0.07
    • -0.42%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus