Gogoro (GGR) said Tuesday that it has appointed Henry Chiang as chief executive officer, effective immediately.

Chiang has been serving as interim CEO since September of last year, the company said.

Separately, Gogoro said it will implement a 1-for-20 consolidation of the company's shares.

The consolidation will become effective as of 12 am ET on Oct. 6, and the shares are expected to start trading on a split-adjusted basis on Nasdaq Capital Market at the open of trading on the same day, the company said.

Shares of Gogoro were down more than 7% in recent Tuesday premarket activity.