Nikola hires former Forward Air CEO Tom Schmitt as chief commercial officer

Zero-emissions truck manufacturer Nikola Corp. announced that it has appointed former Forward Air CEO Tom Schmitt as its chief commercial officer. Schmitt's exit from Forward Air in February followed the company's problematic merger with Omni Logistics.

Schmitt orchestrated the deal, which positioned Forward as both a capacity provider and competitor to some of its freight forwarding clients. The acquisition, which shareholders claimed bypassed their approval, faced intense scrutiny from investors and analysts. Under pressure from multiple sides, Forward even attempted to withdraw from the agreement without success.

From the time the deal was announced in August 2023 to a mid-May low, shares of the expedited trucking company plummeted nearly 90 per cent.

At Nikola, a manufacturer of hydrogen-powered fuel cell trucks, Schmitt will focus on scaling the business by managing "sales, commercial operations, dealerships, service, customer success, and marketing functions."

"Fortifying our commercial team is crucial to our success as we focus on our customers' experience and expanding the zero-emission Class 8 marketplace," said Steve Girsky, Nikola president and CEO, in a news release. "Tom brings a solid track record built over the past 35-plus years that will help drive forward Nikola's strategic and operational goals, inside and out."

Before his role at Forward in 2018, Schmitt was the chief commercial officer at DB Schenker. He is recognised for restructuring and selling Canadian natural spring water provider Aqua Terra in 2015. He has also been the CEO of Canadian parcel company Purolator and led FedEx Supply Chain.

"I've been following Nikola for years, and it's an honour to join this mission-driven organisation with the sole goal of decarbonising the trucking industry," said Schmitt. "I look forward to working with the passionate Nikola team in bringing that goal to fruition."

Schmitt's arrival at Nikola comes as the company works to achieve a financial recovery following founder Trevor Milton's fraud conviction. Multiple executive changes have occurred since Girsky, a former vice chairman at General Motors, joined the company a year ago.