RIVERSIDE, Calif., Nov. 10, 2014 /PRNewswire/ -- Green
Automotive Company (GACR.OTC) announced that it has appointed
Carter Read as its Interim President
and Secretary, and Alan Bailey as
its Chief Financial Officer. The appointments of Mr. Read and
Mr. Bailey follow the Company's winding up of its European
subsidiaries and operations earlier this year and signal the
Company's focus on the operations of Newport Coachworks, Inc.
With the winding up of the Company's overseas operations, Mr.
Ian G. Hobday resigned as the
Company's Chief Executive Officer, Chief Financial Officer and
Secretary, effective October 8,
2014. Mr. Hobday also resigned from his position on the
Company's Board of Directors.
Carter Read has been the
President of Newport Coachworks, Inc. since its inception in
2012. Mr. Read, Interim President of Green Automotive, said,
"I am delighted the Green Automotive Board of Directors has elected
to focus on Newport Coachworks and its strong growth
potential. I believe with the proper efforts, Newport
Coachworks can grow its brand recognition and add to its bottom
line. There is work to be done to meet these goals and I look
forward to meeting the upcoming challenges."
On November 3-5, Mr. Read, along
with Midwest Transit Equipment, an independent dealer representing
the Midwest states, attended the Chauffeur Driven Show &
Conference in Atlantic City, NJ.
At the show, Midwest sold two of Newport Coachworks' buses
displayed on the show floor and took orders for additional buses
making the show a successful event. Additionally, management
from Newport Coachworks met with several other independent dealers
regarding possibly representing Newport Coachworks in the northeast
section of the country. Two prominent dealers stood out and
Newport Coachworks is working out the details to add these dealers
to its dealer network.
On October 7th Newport
Coachworks signed a distribution agreement with A-Z Bus Sales. A-Z
will represent Newport Coachworks in California, Nevada, Arizona and Hawaii. Newport is excited with A-Z's commitment to
partner with Newport Coachworks and help grow sales in these
western states.
In response to the Securities and Exchange Commission's recent
entry of an Order that alleges that Green Automotive failed to
properly and timely disclose certain stock and financing
transactions, the Company has taken steps to improve its corporate
filing responsibilities in this regard and intends to appropriately
report such actions on a timely basis in future.
About Green Automotive Company visit:
www.thegreenautomotivecompany.com
Forward Looking Statements - This release includes
forward-looking statements. For a copy of the Company's full
statements regarding forward-looking statements please view the
Safe Harbor Statement on our website.
SOURCE Green Automotive Company