Lion Electric Appoints Nicolas Brunet President; Richard Coulombe CFO

The Lion Electric Company, a leading manufacturer of all-electric medium and heavy-duty urban vehicles, announced that Nicolas Brunet has been appointed as President, effective September 11.

In his new and expanded role, Nicolas will work alongside Marc Bedard, CEO-Founder, on the elaboration and execution of all strategic aspects of the business, with a focus on accelerating sales across Canada and the United States plus oversee all commercial operations.

Prior to that, Nicolas served as Executive Vice President and Chief Financial Officer since December 2019, playing a critical role in the execution of the Company's strategic plan, including through the completion of key financing transactions, the establishment of partnerships with key customers and stakeholders, and the management of the Company's corporate development and corporate affairs.

Richard Coulombe, who had been serving as Lion's Senior Vice President, Strategic Initiatives since November 2021, will take over the role of Chief Financial Officer, effective today. Richard previously oversaw the execution of Lion's key capital projects, namely the establishment of the vehicle manufacturing plant in Joliet, Illinois and the battery factory in Mirabel, Quebec. Richard benefits from over 25 years in executive finance roles, mostly with manufacturing companies, including serving as Vice President, Finance of Bombardier Transportation.

"I am thrilled with the management changes announced today, which are very well aligned with our business's requirements. After four years with Lion during which he got intimately acquainted with Lion's products, customers and operations, Nicolas is ideally positioned to take on greater responsibilities and assume an expanded leadership role. Additionally, Richard's expertise and experience will be instrumental to pursue our critical profitability goals,” said Marc Bedard, CEO-Founder.

"The management changes announced today represent a key step in ensuring that Lion has the optimal senior management team for both today and tomorrow,” said Pierre Larochelle, Chairman of the Board of Directors of Lion. "Lion's entire Board is confident that Marc, Nicolas and Richard have the required expertise to take the business to the next level,” he continued.