Eco City Vehicles has begun a search for a new chief executive following a successful share placing.
The publicly-listed company, which builds the low emissions Mercedes-Benz Vito Taxi, has proposed changes to its board in preparation for its next phase of development.
Once a new chief executive has been confirmed current CEO Peter DaCosta will become a non-executive director, while Tim Yeo, who has chaired the company since its 2007 admission to AIM, is stepping down, to be replaced by John Swingewood.
It comes after ECV raised £1.75m in a share placement, which will help to reduce debt and provide working capital.
The Vito Taxi has increased its share of the new London license taxi market to 36% this year.
As editor, Tim is responsible for the media content, planning and production of AM's multiple channels (AM print and digital magazines, website, social media and contributing to our events planning). He interviews and writes about as many franchised dealer groups and UK divisions of motor manufacturers as possible, to explore the issues facing UK motor retail and understand what solutions dealers and suppliers are using to overcome these.
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