Albert Li Will Serve As Executive Director While A Search For His Replacement Is Conducted

After less than a year at the helm of Mooney Aircraft, Vivek Saxena has apparently resigned his post. 

Employees at the company's Kerrville, TX and Chino, CA operations were reportedly notified in an email that Mooney and Saxena (pictured) had "decided to part ways." Albert Li will assume the post of Executive Director while a search is conducted for a new CEO, according to a report from AOPA.

Mooney marketing director Lance Phillips told AOPA Monday that Saxena was on a "leave of absence", and declined to give further details. He said that the company is "proceeding full speed" on M20 production and M10 development. "There's nothing else to report," he said.

However, Saxena told several media outlets, including ANN, at Sun 'n Fun that production of the M10 was on indefinite hiatus, but that the technology developed for the aircraft would be used for other, future projects.

Mooney is owned by the Meijing Group, a Chinese corporation which infused millions of dollars into Mooney, breathing new life into the company after it had stopped production for several years.

The M20 Ultra line recently received certification from the FAA.

(Image from file)

FMI: www.mooney.com