Former PwC Assurance Partner takes the helm to navigate Fisker’s financial challenges and drive growth in 2024 as Fisker stock price continues to drop.
Today, Fisker announced the appointment of Angel Salinas as its new Chief Accounting Officer, effective immediately. Relocating from Texas to California, Salinas takes over a likely substantial task from his predecessor, who resigned after just a couple of weeks in the CAO role in November 2023. With over 20 years of experience as an Assurance Partner at PricewaterhouseCoopers, Salinas joins the Fisker team and will report to CFO Dr. Geeta Gupta-Fisker.
Since November, Fisker has been busy enhancing its finance and accounting capabilities to improve its internal controls. The company recently hired several new senior leaders, including Axel Buhr as VP, Finance & Controller Operations, and Eric Sand as the Corporate Controller, leveraging decades of experience in managing financial processes. Furthermore, Dan Quirk, a seasoned professional with over 30 years at Ernst & Young, joined as the EVP of Finance and Accounting.
While the company has recently made some positive strides with team building, delaying its Q3 2023 quarterly results has put continuous pressure on Fisker stock. The shares plummeted from $4.37 per share on November 8th, 2023, to an all-time low of $1.16 per share this morning. Currently, the stock is trading down -0.125 at $1.205 (-9.40%) on this news, reflecting a substantial 72.42% decrease in its stock price over this period. This setback marks the most significant and costly lesson for Fisker since going public back in October 2020.
“I’m excited to join Fisker at such an exciting point in its history and looking forward to working with executive leadership and the accounting team to help manage the continued rapid growth the company expects to experience in 2024 and beyond.”
Angel Salinas, Chief Accounting Officer, Fisker Inc.
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