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Chetan Maini who founded Reva more than two decades ago, has resigned as CEO of the electric car company now owned by Mahindra & Mahindra. He will be replaced by Arvind Mathew, a former managing director of Ford in India.
While Maini is stepping down from his position of CEO, he will continue to hold his stake position in the company. However, Chetan Maini's own stake position has been consistently coming down since M&M took over. Maini had a stake of over 5.5% at the time of takeover, at the end of FY14, his stake position came down to 3.57% in the company.
Chetan Maini quits as Reva CEO; to be replaced by ex-Ford India MD Arvind Mathew - The Economic Times
While Maini is stepping down from his position of CEO, he will continue to hold his stake position in the company. However, Chetan Maini's own stake position has been consistently coming down since M&M took over. Maini had a stake of over 5.5% at the time of takeover, at the end of FY14, his stake position came down to 3.57% in the company.
Chetan Maini quits as Reva CEO; to be replaced by ex-Ford India MD Arvind Mathew - The Economic Times