Electric vehicle maker Switch Mobility said on Friday its vice chairman and CEO Andy Palmer had offered to resign, citing personal reasons, and had elevated Mahesh Babu to the position of new chief executive with immediate effect.
Palmer asked management to let him step down as vice president and chief executive officer for personal reasons, the company said in a statement here.
“To maintain continuity of strategy and execution of plans, the Board of Directors has approved the appointment of Mahesh Babu as CEO of Switch Mobility,” the company said.
Dheeraj Hinduja would immediately assume the role of executive chairman, according to the statement.
“I would like to personally thank Andy for his vision and commitment since Switch’s inception and what we have achieved so far would not have been possible without his wise leadership,” said Hinduja.
“Mahesh has a proven track record of successfully growing the business in India and I am confident that under his leadership we can achieve the same in the UK and Europe,” he said.
In August this year, Switch Mobility partnered with transportation technology company Chalo to roll out 5,000 electric buses across the country. The Memorandum of Understanding (MoU) in this regard has been signed for an initial period of three years.
As part of this partnership, Switch and Chalo will jointly invest to deploy electric buses in the cities where Chalo is present.
Chalo will deploy its consumer technology solutions offering conveniences such as live bus tracking, digital tickets and travel plans; and also determine routes, frequency, schedules and fares.
Switch’s responsibilities include the supply and maintenance of electric buses.
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