Terry McAuliffe No Longer Chairman of GreenTech

Terry McAuliffe watches the Big East tournament with Bill Clinton. (AP)

Virginia gubernatorial candidate Terry McAuliffe left his position as chairman of electric car manufacturer GreenTech in December of last year, Politico reports:

In a letter dated December 1, GreenTech Automotive CEO Charles Wang wrote to McAuliffe to accept his resignation as chairman of the company. McAuliffe had announced only a few weeks earlier, on Nov. 8, that he would mount his second campaign for governor of Virginia. [...]

McAuliffe remains an investor in GreenTech: disclosure documents filed last week with the state of Virginia show that McAuliffe holds GreenTech stock worth more than $250,000. In a section of the same disclosure forms where candidates list their corporate attachments, McAuliffe listed no current paid officer or director positions. [...]

McAuliffe has recently been identified in media accounts as chairman of GreenTech Automotive and the GreenTech website lists no press release announcing his departure. But his campaign said any operational business relationship ended months ago.

As chairman, McAuliffe chose not to pursue moving manufacturing jobs to Virginia--where GreenTech is headquartered; the company has two manufacturing facilities in Mississippi. GreenTech also has operations in China.

Dubbed a "a monument to the power of a politically connected company" by the New York Times, critics say McAuliffe used his vast political connections to grow the privately held company.