Fisker Automotive Inc. has named Jim Yost to be its new chief financial officer. The producer of luxury plug-in hybrid cars appointed Yost, a former Ford Motor Co. and Dana Holdings Corp. executive, as the company is aiming to rise above the difficulties of acquiring funding and raising its quality. Yost was the CFO for Dana from 2008 until May.
Yost will be reporting directly to CEO Tom LaSorda and Henrik Fisker, the executive chairman and co-founder of Fisker. In the statement, LaSorda said that Yost’s skills in managing the finances, operations, and strategy as well as his international experience are considered a “tremendous asset” as it continues to widen the worldwide reach of the Karma sedan and make preparations for the next-generation Atlantic sedan.
Before Yost was hired, Fisker had appointed LaSorda in February. He is a former CEO of the predecessor of Chrysler Group LLC as Fisker aids its operations by hiring auto industry veterans. The closely held company had gotten $529 million in U.S. loans to engineer and build rechargeable cars.
It is repairing battery-pack glitches in its Karma model and is attempting to regain access to federal funds for a Delaware factory after not being able to meet delivery deadlines. Fisker spokesman Russell Datz said that Yost is the replacement for Joe DaMour, who will stay as a special adviser to the company. Yost was with Ford for 27 years. Yost served in different senior- and executive-level finance roles in North America, Europe and South America.
“We are delighted to add a high caliber global automotive executive like Jim to the Fisker leadership team,” said CEO Tom LaSorda. “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.”