Canoo Appoints Ken Manget Chief Financial Officer

On January 26, 2023, Canoo Inc. (Nasdaq: GOEV) appointed Ken Manget as Chief Financial Officer, succeeding interim CFO Ramesh Murthy, who will now focus on his role as Senior Vice President, Finance.

Rhea-AI Summary

On January 26, 2023, Canoo Inc. (Nasdaq: GOEV) appointed Ken Manget as Chief Financial Officer, succeeding interim CFO Ramesh Murthy, who will now focus on his role as Senior Vice President, Finance. Reporting to Chairman and CEO Tony Aquila, Manget brings extensive financial experience, having previously managed a multi-billion global equity investment strategy at Ontario Teachers' Pension Plan and closed numerous finance transactions at BMO Capital Markets. This leadership change aims to strengthen Canoo's financial strategy as the company approaches its go-to-market phase for its electric vehicles.

Positive

• Appointment of Ken Manget as CFO may bring fresh financial strategies to Canoo.
• Manget's extensive experience in the financial industry could enhance investor relations and capital markets efforts.

Negative

• Leadership transition may cause short-term instability during the go-to-market phase.

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News Market Reaction – GOEV

In the trading session that priced this news, GOEV gained 15.97%, reflecting a significant positive market reaction.

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JUSTIN, Texas, Jan. 26, 2023 /PRNewswire/ --  Canoo Inc. (Nasdaq: GOEV), a high-tech advanced mobility company, today named Ken Manget, Chief Financial Officer.  Reporting directly to Canoo Chairman and CEO, Tony Aquila, Manget will be responsible for Capital Markets, Investor Relations, Accounting & Financial Reporting. Ramesh Murthy, who served as interim CFO, will continue in his role as Senior Vice President, Finance and Chief Accounting Officer.

"We are pleased to appoint Ken to Canoo's executive management team. We have worked together for many years, starting at Ontario Teachers' Pension Plan including as a consultant to AFV Partners," said Tony Aquila, Chairman and CEO at Canoo. "I'd like to thank Ramesh for his hard work in the interim CFO role. As we now move to the go-to-market phase, he will focus his attention on his SVP and Chief Accounting Officer duties."

Manget has many years of financial industry experience on the buy and sell side, including running a multi-billion global equity investment strategy at Ontario Teachers' Pension Plan, and having originated and closed several billion of equity, debt and structured finance transactions while at BMO Capital Markets.

About Canoo

Canoo's mission is to bring EVs to Everyone. The company has developed breakthrough electric vehicles that are reinventing the automotive landscape with bold innovations in design, pioneering technologies, and a unique business model that spans the full lifecycle of the vehicle. Distinguished by its experienced team from leading technology and automotive companies – Canoo has designed a modular electric platform purpose-built to deliver maximum vehicle interior space that is customizable across all owners in the vehicle lifecycle to support a wide range of vehicle applications for consumers and businesses.

Canoo has teams in California, Texas, Oklahoma, Arkansas and Michigan. For more information, please visit www.canoo.com. For Canoo press materials, including photos, please visit press.canoo.com. For investors, please visit investors.canoo.com.

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SOURCE Canoo

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Who is the new CFO of Canoo?

Ken Manget has been appointed as the new Chief Financial Officer of Canoo.

What was Ramesh Murthy's role at Canoo after the CFO change?

Ramesh Murthy will continue as Senior Vice President, Finance and Chief Accounting Officer.

What qualifications does Ken Manget bring to Canoo?

Ken Manget has extensive experience managing a global equity investment strategy and closing significant finance transactions.

When was Ken Manget appointed as CFO of Canoo?

Ken Manget was appointed as CFO on January 26, 2023.

How might Ken Manget's appointment impact Canoo's financial strategy?

Manget's experience could strengthen Canoo's investor relations and capital market strategies as they prepare to launch their electric vehicles.