Why Skills-First Leadership Is Replacing the Ivy League Playbook in the C-Suite
05/23/2025
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The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
Volta Trucks, a Swedish electric truck startup, has filed for bankruptcy after failing to secure a battery supplier and additional capital. The company, founded in 2017, had developed a prototype of a fully electric truck scheduled to go into production in 2023.
However, Volta Trucks could not secure a battery supplier after its original supplier, Proterra, went bankrupt in August 2022. The company was also unable to raise additional capital to support its operations.
Volta Trucks’ bankruptcy is a setback for the electric vehicle industry. The company was seen as one of the leading contenders in the emerging market for electric trucks. Volta Trucks’ trucks were designed to be more efficient and environmentally friendly than traditional diesel trucks.
The company’s bankruptcy also raises concerns about electric vehicle startups’ challenges. Many startups need help raising capital and securing supplies of key components, such as batteries. These challenges will likely continue in the near term as the electric vehicle industry grows and matures.
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
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The Fort McMurray First Nation Group of Companies is the wholly owned business entity of Fort McMurray 468 First Nation. It was established in 1987 as Christina River Enterprises, and the organization rebranded as FMFN Group in 2021. Providing Construction, Custodial, Petro-Canada Fuel & Convenience Store, and Transportation services to a broad portfolio of customers, the Group of Companies is creating financial stability and prosperity for the Nation.
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