Michiel Mol has announced that he will step down as CEO of Spyker . In the meantime, Hans Hugenholtz, vice-chairman of Spyker’s supervisory board, will act as CEO. Mol replaced Victor Muller, founder and former CEO of the Dutch comapny, in March.
Spyker has had some credit worthiness issues as of late, and there have been reports that the company will sell all, or at least part, of its Formula One team in hopes of becoming financially stable. Mol is actually the top prospect to buy the racing team and it is believed that he is stepping down as CEO to avoid a conflict of interest.
While Spyker has made a small profit over the last year or so, the company might have taken on too lofty of goals. Spyker, who sold fewer than 100 cars last year, has been balancing running an F1 team with delivering the 300 cars promised to customers this year, including new models that have yet to be developed. Credit worthiness fears have also seen the company increase funding to secure short-term loans. Spyker is expecting to make a loss this year.
