FUV - Arcimoto names interim CEO transitions founder to strategy role

Arcimoto ( NASDAQ: FUV ) named Jesse Fittipaldi to the role of Interim CEO.

Fittipaldi joined Arcimoto in 2015 as the company's Business Development Lead and later served as Vice President of the Company and Chief Strategy Officer.

Founder Mark Frohnmayer has been named Chief Vision Officer. Frohnmayer is noted to have founded Arcimoto in 2007 and oversaw Arcimoto's ( FUV ) growth from a boutique R&D studio to a leading three-wheel electric vehicle manufacturer. As Chief Vision Officer, the company said Frohnmayer will focus on long-term strategic initiatives and key technology development programs for the future of sustainable mobility. He will also continue in his role as chairman of the board.

Shares of FUV are down 0.62% premarket and are off 61% on a year-to-date basis.

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