Ray Lane Resigns From Fisker’s Board image

Fisker lost an important board member, with great influence in attracting investors.

Fisker confirmed that Ray Lane, 66, resigned on Friday, May 24th, from the board. His venture capital firm Kleiner Perkins Caufield & Byers also confirmed the resignation. Lane’s decision came as Fisker has already two offers from investors who want to resurrect the cash-strapped company, which hired bankruptcy advisers earlier this year.

One such investor is Richard Li, a Hong Kong billionaire, who wants to buy Fisker’s loan for pennies on the dollar, an unusual strategy chosen by some investors. According to anonymous sources Kleiner Perkins said that it is better for Fisker to be led by those who supported the new options, such as the loan purchase.

Kleiner Perkins was also an investor in Fisker, and Lane supported the company and wanted Fisker to avoid bankruptcy. Thanks to Perkins and Lane’s help the automaker raised hundreds of millions of dollars in financing, all from private investors. But due to several missteps related to Karma’s launch, made the company lose all the money and in April Fisker laid off most of its workers to save costs.

“Please be informed that Ray Lane has elected to resign from the Fisker Automotive Board of Directors,” Chief Executive Tony Posawatz said in a message to Fisker employees on Tuesday. “I would like to personally recognize and thank Ray for his contributions to the company and wish him all the best in the future,” he added.

Source: Reuters