November 7, 2010
Green Automotive Completes Rebuilding of Management Team: Stephen Aust Joins as President and Advisory Board Finalized Electric Vehicle Importer Gets "Stamp of Approval" From California Voters With Resounding "No" vote on Proposition 23
DALLAS -- (BUSINESS WIRE) -- Green Automotive Company Corporation (Pink Sheets:GACR) announced today that Stephen Aust, Chairperson of the Company's Advisory Board, will now wear two hats as he agrees to also serve as the Company's President. In addition, Aust reported that his Advisory Board will be complete by November 15, 2010.
Aust agreed Wednesday to accept the offer to serve as the Company's President, following the emphatic crushing by California voters of Proposition 23, sending a clear "No" message aimed at suspending a landmark law - the Global Warming Solutions Act - mandating reducing carbon emission output by 25% to 30% by 2020.
The Act became California law in 2006 and should now proceed to take effect in 2012.