Polar Power, Inc. (POLA) has implemented a new leadership structure, appointing Chris Mayer as Co-Chief Executive Officer, effective October 6, 2026. He will serve alongside the company's current CEO and President, Arthur D. Sams, who will continue as Co-Chief Executive Officer and President. The new structure divides executive responsibilities to enhance focus on both corporate strategy and operational execution.
Key Details
- Effective Date: The board approved the new leadership structure and appointment on October 6, 2026.
- Division of Roles: Chris Mayer will be responsible for corporate strategy, financial performance, and capital markets. Arthur Sams will lead operations, engineering, product development, and manufacturing.
- New Co-CEO Background: Mr. Mayer is the managing member of CL Investment Group LLC, an entity that recently made several investments in Polar Power, including purchasing Series A Convertible Preferred Stock and a convertible promissory note.
- Compensation: The company has not entered into a compensatory arrangement with Mr. Mayer for his new role, and Mr. Sams' compensation will not change.