We haven't received an official announcement from Saleen, but we're here to report that Chris Theodore has been named the new CEO of Saleen, Inc. His previous title at the company was Vice Chairman and Chief Technical Officer, and he has helped drive the development of Saleen's latest vehicles including the S5S Raptor Concept, S302 Extreme, and Dan Gurney Signature Series Mustang. Theodore is most famous for his time at Ford as the head of North American Car Product Development, where he initiated the development of the Ford GT and was also responsible for other vehicles like the 2002 Ford Thunderbird and the 2001 Bullitt Mustang. We have no information on why former Saleen CEO Paul Wilbur is no longer at the position, but we'll be sure to let you know as soon as we find out.

UPDATE - a letter from Saleen regarding the new appointment has been including after the jump.

The executive team would like to inform you of the following management changes that have been made at Saleen and ASC Incorporated.

Paul Wilbur voluntarily and amicably resigned from the post of President and CEO in order to pursue other business opportunities.

Chris Theodore, a former senior executive at both Chrysler and Ford Motor Company, was installed to the post of Chief Executive Officer and as such has assumed responsibility for the operations of Saleen and its sister company ASC
Incorporated.

Hancock Park Associates, the principal shareholder of both Saleen and ASC, noted that "Paul left a clear succession plan that included the appointment of the company Vice Chairman to the position of CEO with the full support of both the Saleen and ASC management teams".

We appreciate the leadership and support that Paul has provided, and we wish him great success in his new endeavors. Chris is honored to accept this position, and we all look forward to working with you to continuously strengthen our relationship.