Fisker encountered a sudden shift in its accounting leadership as Chief Accounting Officer Florus Beuting resigned within a mere two weeks of assuming the position. Beuting, who communicated his intent to step down on Nov. 14, was appointed as the accounting chief on Nov. 6, succeeding John Finnucan, who departed the company in October after a three-year tenure in the role.
The departure of Finnucan had previously prompted the electric-vehicle startup to postpone its quarterly results, citing concerns related to internal controls over financial reporting.
Reports on Beuting's exit were first disclosed by The Wall Street Journal on Monday, citing sources familiar with the matter. Fisker's shares experienced a decline of 3.3%, closing at $2.35, marking another record low for the company.
In a separate development, Fisker, which unveiled its third-quarter results on Nov. 13, acknowledged receiving a notice from the New York Stock Exchange for the delayed filing of its 10Q. The company finds itself navigating through a series of challenges in the wake of these accounting shifts, with the market closely monitoring its ability to address internal control concerns and meet regulatory filing obligations.