The chief executive and co-founder of electric aircraft manufacturer Eviation is stepping down, blaming a row with one of the company’s investors.
“Friends, Effective today, I am to step down from my position as CEO after a long-standing disagreement with the company’s main shareholder,” Omer Bar-Yohay announced in social media posts on February 14, 2022.
The announcement comes as US-based Eviation readies the first flight of its all-electric Alice aircraft, which is expected to take place in the coming weeks.
The twin-engine aircraft is powered by 640 kW magni650 powerplants and is due to be available in commuter, executive and cargo formats. It is designed to carry up to nine passengers at a cruise speed of 250 knots and a range of 440 nautical miles.
Friends,— Omer Bar-Yohay (@YohayBar) February 14, 2022
Today, I’m stepping down from my position as CEO after a long-standing disagreement with the company’s main shareholder.
Thank you @EviationAero, partners, and investors, for the patience and dedication to take on this journey. Leading you was a tremendous privilege. pic.twitter.com/NnJY9XBurQ
“This endeavor is bigger and has more momentum than the person who started it and will endure the influence of even the most misguided investor,” Bar-Yohay said in a Linkedin post, without giving further details of the disagreement.
According to an article by the Air Current, Eviation’s main shareholder is Richard Chandler, who owns Clermont Group. Chandler’s group is the parent of Clermont Aerospace, which owns Magnix, the provider of Alice’s engines. The Air Current quoted Bar-Yohay as saying that there had been “an array of disagreements over a long period of time”.
Bar-Yohay said Eviation president Gregory Davis would act as interim CEO while Eviation searches for a replacement. Bar-Yohay will remain involved with the company as a board member.
In a separate statement, Eviation described the change in management as a “planned succession process” that comes as the company prepares to move to production.
“We wish to express our appreciation to Omer for his contributions as a co-founder and executive of Eviation,” Dominique Spragg, chairman of Eviation, said in the statement.
Spragg said Eviation expects to make the first flight of Alice in the upcoming weeks. “As we complete the technical demonstration phase, Eviation is now preparing for production to make affordable regional air travel a reality in the coming years.”