Bill McDermott, president and CEO, ServiceNow, joins expansive Fisker Inc. Board ahead of completion of merger with Apollo affiliated Spartan Energy Acquisition Corporation (NYSE: SPAQ)
McDermott brings extensive global leadership experience across transformative enterprise software, cloud platform and modern digital workflow technology sectors; will provide valuable input as Fisker Inc. creates a digital-first ownership experience
Strong track record of Environmental, Social and Governance (ESG) leadership
LOS ANGELES, Sept. 29, 2020 /PRNewswire/ -- Fisker Inc. ("Fisker") – developer of the world's most emotionally desirable, eco-friendly electric vehicles – today announced an important new addition to its board of directors. Bill McDermott, president and CEO of ServiceNow (NYSE:NOW) – the leading digital workflow company making work, work better for people – becomes the seventh member of the Fisker Inc. Board, which has been shaped in anticipation of the completion of its merger with Spartan Energy Acquisition Corporation (NYSE: SPAQ) ("Spartan"), a special purpose acquisition company sponsored by an affiliate of Apollo Global Management, Inc. (NYSE: APO) ("Apollo"). The board is comprised of seven members: two executives from Fisker, four external directors and a Spartan appointee.
Commenting on this latest addition to the board, Henrik Fisker, chairman and chief executive officer of Fisker Inc. said: "Based on my years of experience in electrification, I wanted to assemble a board that can help deliver our disruptive business model and grow the company into a global segment leader. Our board members bring their extensive experience in ESG, combined with the insights needed to help guide the growth of our company. Bill has unparalleled international experience and an incredible track record as a leader in software systems and software-as-a-service (SaaS). He will be extremely valuable as we develop Fisker Inc. to be the world's first digital car company, especially as we build our digital app and e-mobility as a service (EMAAS) capabilities."
"Visionary cars demand a visionary 21st century car ownership experience," McDermott said. "Owning a Fisker car will set a new standard in workflow-enabled, seamless, direct-to-consumer digital experiences. I am thrilled to join the board of Fisker Inc. and help Henrik and his team deliver an amazing end-to-end digital-first car ownership experience as they pursue their dream of revolutionizing the automotive industry and creating a clean future for everyone."
The merger between Fisker and Spartan is anticipated to be completed later this year and will result in shares of Fisker's Class A Common Stock trading on the New York Stock Exchange as a publicly listed company.
Fisker Inc. Board of Directors:
Henrik Fisker, founder, chairman and CEO of Fisker
Dr. Geeta Gupta-Fisker, co-founder and CFO of Fisker
Wendy Greuel, former controller and councilmember for the City of Los Angeles
Mark Hickson, executive vice president corporate development, strategy, quality and integration for NextEra Energy, Inc.
Bill McDermott, president and CEO, ServiceNow
Rod Randall, co-founder of Vesbridge Partners, executive partner of Siris Capital, board director of Stratus Technologies and Mavenir, chairman of the board of Maglev Aero
Nadine Watt, CEO of Watt Companies and chair of the Los Angeles Business Council
About Fisker Inc. California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by a vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world's most sustainable vehicles. To learn more and to reserve the all-electric Fisker Ocean, visit www.FiskerInc.com.
Forward Looking Statements The information in this press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this presentation, regarding Spartan's proposed acquisition of Fisker, Spartan's ability to consummate the transaction, the benefits of the transaction and the combined company's future financial performance, as well as the combined company's strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Spartan and Fisker disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Spartan and Fisker caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of either Spartan or Fisker. In addition, Spartan cautions you that the forward-looking statements contained in this press release are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the business combination or give rise to the termination of the agreements related thereto; (ii) the outcome of any legal proceedings that may be instituted against Spartan or Fisker following announcement of the transactions; (iii) the inability to complete the business combination due to the failure to obtain approval of the shareholders of Spartan, or other conditions to closing in the transaction agreement; (iv) the risk that the proposed business combination disrupts Spartan's or Fisker's current plans and operations as a result of the announcement of the transactions; (v) Fisker's ability to realize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of Fisker to grow and manage growth profitably following the business combination; (vi) costs related to the business combination; (vii) changes in applicable laws or regulations; and (viii) the possibility that Fisker may be adversely affected by other economic, business, and/or competitive factors. Should one or more of the risks or uncertainties described in this press release, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in Spartan's periodic filings with the Securities and Exchange Commission (the "SEC"), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and other SEC filings. Spartan's SEC filings are available publicly on the SEC's website at www.sec.gov.
Important Information for Investors and Shareholders In connection with the proposed business combination, Spartan Energy Acquisition Corp. will file a proxy statement with the SEC. Additionally, Spartan Energy Acquisition Corp. will file other relevant materials with the SEC in connection with the business combination. Copies may be obtained free of charge at the SEC's web site at www.sec.gov. Security holders of Spartan Energy Acquisition Corp. are urged to read the proxy statement and the other relevant materials when they become available before making any voting decision with respect to the proposed business combination because they will contain important information about the business combination and the parties to the business combination. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
Participants in the Solicitation Spartan Energy Acquisition Corp. and its directors and officers may be deemed participants in the solicitation of proxies of Spartan's shareholders in connection with the proposed business combination. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of Spartan's executive officers and directors in the solicitation by reading Spartan's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and the proxy statement and other relevant materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of Spartan's participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the proxy statement relating to the business combination when it becomes available.