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Back on February 14th, Ian Clifford stepped down from his role as chief executive officer of ZENN Motor Company, Inc. Clifford, who founded ZENN back in 2001, did not completely leave the company. Rather, he assumed the position of vice chairman of ZENN's board of directors. Brian Cott, who joined the company back in 2006, replaced Clifford as ZENN's president and CEO.

Now, it's Brian Cott who's stepping down. On Monday, ZENN announced that Cott will resign as the firm looks to pare back operations to cut costs, according to Ward's Auto (sub. req.). ZENN says that it will name a replacement CEO "in the near future."

Many investors in ZENN are fed up after years of waiting for word of a breakthrough on that mythical EEStor ultracapacitor technology. Even so, ZENN says that it intends to make a "strong relationship" with EEStor its priority, while cutting back on its other operations, including developing drive systems for electric vehicles.

[Source: Ward's Auto – sub. req.]