LONGMONT, Colo. -- UQM Technologies has appointed Eric Ridenour, former chief operating officer of the Chrysler Group, to the position of president and chief operating officer.

UQM Technologies is a developer and manufacturer of power-dense, high-efficiency electric motors, generators and power electronic controllers for the automotive, aerospace, military and industrial markets.

Ridenour will join the company on Sept. 1 and will become CEO on Dec. 1. He succeeds William Rankin, who will retire from the role of CEO but continue as chairman of the board of directors.
 
Ridenour, a 26-year veteran of the automobile industry, began his career as a powertrain engineer with General Motors Corp. During his 21 years with the Chrysler Group, Ridenour served in a series of progressively responsible positions including director of advanced vehicle engineering, vice president of product planning, vice president of the premium vehicle product team, executive vice president of product development and quality and from 2005 through 2007, as chief operating officer and member of the board of management at DaimlerChrysler AG. In his role as chief operating officer at Chrysler, Ridenour was responsible for a $10 billion operating budget and a workforce of 65,000 employees.

Ridenour holds a bachelor's degree in mechanical engineering and an MBA, both from the University of Michigan.

“We are excited to have Eric join the company as we begin the next phase of our growth,” said Rankin. “Eric’s decades of experience in the automobile industry and extensive experience as a senior manager in a variety of important roles at Chrysler make him the ideal person to lead our company into the future.”

Rankin will step down as CEO effective Nov. 30, after nearly 18 years of service with the company. He joined UQM as executive vice president – operations in 1992, was appointed to the board of directors in 1994, assumed the position of president and CEO in 1999 and became chairman of the board of directors in 2000.

“Bill’s strategic vision and hard work during his tenure have transformed the company from a small technology development company to a qualified manufacturer of world-class electric propulsion systems and positioned the company as a key player in the market for electrically powered vehicles,” said Stephen Roy, the senior member of the company’s board. “We look forward to Bill’s continued involvement as chairman of the board and we wish him the best during his retirement years.”

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