Chris Theodore named as new CEO of Saleen, Inc.
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.
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Reader Comments (Page 1 of 1)
tankd0g 7:59PM (8/08/2008)
Also he's staring in Tron 2?
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WhyNotTheC63? 9:53PM (8/08/2008)
They should have made Tron guy Costume Guy the CEO.
http://www.youtube.com/watch?v=3609OtM138c&feature=related
Torrent 7:06PM (8/08/2008)
Really?
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arturo 9:01PM (8/08/2008)
i think saleen needs to step it up and be what ferrari is for Italy. I think Saleen has the design and power behind to back it up. ever since the saleen s7 came out, I liked saleen and I am still waiting to see one in person. everyone have say this car looks beautiful and from the tons of pics and vids i have seen its got to be true.
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tankd0g 9:37AM (8/09/2008)
I don't think a company that modifies the cars of other companies can ever be the Ferrari of America. Maybe Brabus.
notsurprised 8:42PM (8/09/2008)
I would not be surprised if Wilbur (like past Saleen Executives) was forced out by Hancock Park, the private equity company that owns Saleen and ASC. Similar to Steve's "retirement". The agenda doesn't go as promised/planned, so HP steps in to move things around and cut overhead. What was surprising was the hiring of Wilbur to begin with, the man who bankrupt ASC.
Ego's, arrogance and lack of foresight on both HP and Saleen management (including Steve himself) has doomed Saleen Inc from day one. The company grew quickly during the boom of the GT program and early years of the 05-08 mustang, but couldn't sustain the workforce during the failure of the S331 Truck. (HP wanted a truck in the Saleen line - the answer to the question nobody asked).
Unfortunately Saleen is pigeon-held with Ford products, too much ego, too much square-footage and too little intelligence. With the introduction of cheaper "Flag" S281s, the "desperate to get new buyers" Racecraft, the "no-way in hell will it be built - but'll get us exposure" S5S, the ugly PJ sequel "Gurney Edition", and the quick to depreciate $100k 25th anniversary - Theodore has a small pair of shoes to fill, but a mountain of crap to clean. Good Luck my friend.
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