Commercial EV maker Arrival and CIIG Merger today announced five directors of Arrival’s new board ahead of the planned business combination.
Arrival’s initial board will include Peter Cuneo (CEO of CIIG), Avinash Rugoobur (President and CSO for Arrival), Jae Oh (Vice President and Head of Corporate Development at Hyundai), Kristen O’Hara (Senior Vice President and Chief Business Officer of Hearst Magazines) and Alain Kinsch (previously served as Ernst & Young S.A.’s Luxembourg Country Managing Partner).
Two additional nominees will be named later, the companies said.
Pending shareholder approval, the combined company is expectedd to have approximately $659.8 million in gross cash proceeds at closing, which is expected in the first quarter. Read more.
