Here we tell the tale of an executive shake-up of epic proportions.

Keith Schmid, chief executive officer Boston-Power, a Massachusetts-based company that designs and manufacturers application-specific lithium-ion batteries, has reportedly resigned amidst word that the firm will soon shift some of its resources to China. Gone too are founder and former head Christina Lampe-Onnerud, chief financial officer Steve Byram and vice-president of marketing Sally Bament, according to the Boston Globe.

What's driving this executive fallout? Well, word is Boston-Power expects to announce a funding deal early as next week and, according to the firm's spokesperson, part of the investment requires Boston-Power to downsize its local staff and focus instead on its existing operations in China. The company, founded by Lampe-Onnerud in 2005, has offices in the U.S., Sweden, Taiwan and China.

I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.

    • 1 Second Ago
  • 2015 Toyota Highlander
    MSRP: $29,765 - $44,140
    2015 Honda Accord
    MSRP: $22,105 - $33,630
    2015 Toyota Corolla
    MSRP: $16,950 - $22,955
    2015 Mazda Mazda3
    MSRP: $16,945 - $25,545
    2015 Jeep Grand Cherokee
    MSRP: $29,995 - $64,895
    Share This Photo X