Chetan Maini, the founder of the Reva electric cars has resigned as the CEO of the electric car company which is now owned by Mahindra.
Chetan Maini founded Reva more than 20 years ago. He will be replaced by Arvind Mathew, who was a former Managing Director of Ford India.
Maini, although not yet decided what he is going to do in the future, he will still be a shareholder in the company, while Mathew will run the day to day operations.
Former Ford Managing Director, Arvind Mathew will take charge from the 1st of May.
Maini's stake in the company has consistently dropped ever since Mahindra took over, although he is a stakeholder.
Maini had a stake of over 5.5 percent when Mahindra took over the company but at the end of 2014 financial year, his stakes in the company stood at 3.57 percent.
After running the company for more than 20 years, Chetan Maini has not decided what his next step is. He might take up a position in Mahindra itself, although he is yet to make up his mind.