CODA Holdings, a developer of Lithium-ion advanced battery systems and all-electric vehicles, recently announced the resignation by mutual consent of Kevin Czinger as chief executive officer.
At the same time, the company designated its interim CEO to be Steven “Mac” Heller. CODA also appointed Mark Jamieson as chief operating officer.
The company emphasized the realignment was part of its ongoing plan at this stage in its growth to set in place a team with deep manufacturing, marketing and sales strengths. Officials revealed Czinger will continue his relationship with the company as senior strategic adviser and as a substantial CODA shareholder.
Heller has served as co-chairman of CODA’s board, establishing what management described as strong working relationships with the executives, employees and business partners throughout the United States, China and Europe.
Previously, officials mentioned Heller served for 20 years at Goldman Sachs in key executive positions, including worldwide head of mergers and acquisitions and co-head of the investment banking division.
The company mentioned Heller paid special tribute to Czinger “for his unwavering efforts to make CODA what it is today.”
Czinger joined the company back in 2008 after it was founded by Miles Rubin. Executives noted that Czinger created and founded the program to develop an entirely new powertrain and battery system for the all-electric CODA sedan.
“Kevin’s leadership role in developing and overseeing the CODA program was truly a remarkable achievement,” Heller stressed.
“Kevin and I have been friends for more than 20 years and I look forward to continuing our friendship and benefiting from his insight as our senior strategic adviser,” Heller continued.
CODA’s board indicated that it has started an active process to select its new CEO. The board asked Daniel Weiss, the managing partner of Angeleno Group, a large institutional investor in the company and a CODA director, to lead this effort.
Weiss emphasized the company remains on steady footing through these changes.
“Mac Heller has the full confidence of the board and is perfectly suited to lead the CODA team in this interim period of transition from an entity that has been focused primarily on engineering and R&D to one that is engaged on a worldwide basis in the sale of advanced power battery systems and electric vehicles,” Weiss offered.
Along with all of the news regarding its CEO, CODA also is elevated Jamieson to COO. He previously served the company as chief financial officer
Officials mentioned that Jamieson joined CODA earlier in the year after a distinguished career as CFO of a number of industrial divisions of General Electric and most recently as CFO of Ryder Systems and HD Supply.
“I believe the depth of CODA’s management team combined with the high caliber of its engineering talent will allow CODA to continue in its mission to accelerate the adoption of all-electric vehicles,” Heller concluded.