Electric vehicle maker Canoo Inc. on Thursday named Ken Manget its new chief financial officer.
Manget takes over for Ramesh Murthy, who had served as interim CFO and will continue as senior vice president of finance and chief accounting officer.
“We are pleased to appoint Ken to Canoo’s executive management team,” Canoo Chairman and CEO Tony Aquila said in a news release. “We have worked together for many years, starting at Ontario Teachers’ Pension Plan including as a consultant to AFV Partners.”
Canoo said Manget, 61, has years of financial industry experience on the buy and sell side, including running a multibillion-dollar global equity investment strategy at Ontario Teachers’ Pension Plan. Manget also originated and closed several billion dollars of equity, debt and structured finance transactions while at BMO Capital Markets, the company said.
AFV Partners LLC is an investment firm led by Aquila that invests in assets “that contribute to a net positive impact on the environment.” Canoo is currently one of AFV’s “significant investments,” the company said.
Before joining Canoo, Manget was CFO of Northern Genesis Acquisition Corp. III from March 2021 to January 2023, CFO of Northern Genesis Acquisition Corp. II from October 2020 to November 2021, and CFO of Northern Genesis Acquisition Corp. from June 2020 to December 2020.
Manget has also served as a consultant to AFV Partners from June 2020 to January 2023. He is currently on the board of directors of Organigram Holdings Inc.
At Canoo, Manget will receive an annual base salary of $490,000, according to a company filing with the U.S. Securities and Exchange Commission.
On Wednesday, Canoo said it signed an exclusive agreement with GCC Olayan for the sale, service and distribution of Canoo fleet vehicles in Saudi Arabia. Canoo has said it plans to move its headquarters to northwest Arkansas and building a manufacturing facility in Bentonville.