Workhorse Group, a North American OEM and provider of all-electric trucks, step vans, shuttles and buses, has appointed Jody Davis as chief financial officer (CFO), replacing current CFO Bob Ginnan, who is retiring.

“Jody is a company-builder who has deep and direct experience in numerous areas that are critical to Workhorse at this stage in our journey,” said Scott Griffith, CEO of Workhorse. “His experience raising later-stage growth capital combined with experience developing relationships with analysts and investors will be a strong addition to the Workhorse leadership team. We believe he’s the right CFO for where we are and where we’re going.”

Davis is a finance executive with approximately 15 years of finance leadership experience across manufacturing, energy storage, aerospace, and technology companies, with a track record of closing large capital rounds and guiding development-stage businesses into full production. His experience includes roles in strategic finance, capital formation, capital markets, treasury, financial planning & analytics, as well as building the finance infrastructure needed to support capital-intensive companies as they move from development into commercialization and production.

“Workhorse is at an inflection point. I believe it has something rare: a product that already wins on real operator economics, a commercial-grade manufacturing facility, and a customer base that includes many of the largest medium-duty fleets in North America,” Davis said. “Workhorse is in the early stages of an exciting growth plan, and with the right capital partners, I believe there is significant upside ahead. My focus will be to bring in those partners and work to maintain a financial architecture that keeps pace with the opportunity: the right capital structure, rigorous cost management, and the systems that give Workhorse’s team, customers, and investors the visibility they need. I’m thrilled to join the Workhorse team and look forward to getting to work.”

Davis’ Leadership Background

Workhorse said Davis’ background is well-suited to help it achieve its near-term priorities, including securing additional growth capital, developing relationships with analysts and institutional investors, and accelerating cost reductions on the W56 and next-generation Class 5–6 platforms.

Immediately prior to joining Workhorse, Davis served as vice president of strategic finance at Unimacts, where he led financing initiatives across multiple entities within a complex capital structure. Previously, he served as chief financial officer of Evio, formerly EOS Aircraft, a hybrid-electric regional aircraft program, where he led the strategic repositioning of the business to Montreal, Canada, as part of an Industrial and Technological Benefits (ITB) partnership with Boeing Canada. In connection with that transition, he built integrated financial models linking design, production, and certification milestones to capital deployment.

Davis was part of the founding team and served as chief financial officer of Our Next Energy (ONE), a Michigan-based LFP battery innovator. During his time with the company, ONE scaled from pre-seed stage to production while expanding to approximately 500 employees, and Davis built the finance, human resources, financial planning and analytics functions needed to support this rapid growth. He played a key role across capital formation, various debt structures, investor diligence, board reporting, treasury, working capital discipline, and manufacturing scale-up.

Bob Ginnan Retirement

Davis replaces current CFO Bob Ginnan, who is retiring.

Ginnan served as CFO at Workhorse since January 2022, helping the company navigate through several key corporate financial events, including capital raises, a divestiture and the merger with Motiv Electric Trucks.

“I want to thank Bob for his years of leadership and tireless work, including his most recent efforts to assist with finalizing and closing the Workhorse-Motiv merger and his efforts to lead several key aspects of integration,” Griffith said. “We all wish him well.”