Several investors have already dropped out of Northvolt’s rescue talks
“It makes sense to augment the board with an individual who has significant restructuring experience in order to guide the company through this period,” Northvolt spokesman Martin Hofelmann said in written comments to Bloomberg.
Newspaper Dagens Industri reported earlier on O’Donnell’s appointment.
The chief executive of Northvolt Ett, the company’s only functioning plant, stepped down last month after operational setbacks that fed the company’s cash crisis. The plant’s expansion project, Northvolt Ett Expansion AB, has sought bankruptcy protection.