Hyliion Holdings (HYLN) has released an update.
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Hyliion Holdings Corp. is experiencing significant changes in its leadership with the resignations of board members Andrew Card, Jr. and Stephen Pang for personal and career reasons, and the departure of Chief Operating Officer Dennis Gallagher as the company shifts away from the powertrain business. The board will be reduced to eight members, and Gallagher will receive severance benefits as outlined in the company’s Executive Severance Plan. None of the departures are due to disagreements with the company’s practices or operations.
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