Coda Automotive Loses CEO

Santa Monica-based CODA Holdings, the parent firm of electric car company CODA Automotive, said late Friday that its CEO, Kevin Czinger, has resigned. According to CODA, it has named Steven "Mac" Heller as the company's Interim Chief Executive Officer, and Mark Jamieson as Chief Operating Officer. CODA said the move came as a result of "mutual consent" between the firm and Czinger, and is part of a "realignment" to put together a team with "deep manufacturing, marketing and sales strengths". Interim CEO Heller was co-chairman of CODA's board. CODA said Czinger remains a "substantial" shareholder and will acts as a Senior Strategic Advisor to the company. CODA said that investor Angeleno Group, led by Daniel Weiss, will manage the effort to locate a new CEO for the company.