Polar Power, Inc. (NASDAQ: POLA) announced a new leadership structure on October 6, 2026, effective immediately. The Board of Directors approved a unanimous written consent to appoint Chris Mayer as Co-Chief Executive Officer, effective October 6, 2026. Arthur D. Sams, the Company’s current President and CEO, will continue to serve as Co-Chief Executive Officer and President.
Under the new structure, Mr. Mayer is responsible for corporate strategy, consolidated financial performance, budgeting, profitability, fundraising, investor relations, capital markets, capital allocation, and strategic investments. Mr. Sams will retain responsibility for operations, including product and technology leadership, engineering, product development, manufacturing operations, supply chain, quality, customer relationships, and new product commercialization. Product and technology strategy and sales will be managed jointly by the Co-CEOs, with the Board resolving any disputes.
Chris Mayer, age 30, joins Polar Power from CM Capital Management, LLC, where he has served as President and CEO since August 2023. He also serves as CEO of CM Fabrication, LLC (since June 2024) and Windows Distillery, LLC (since October 2021). Previously, he was SVP of sales and manufacturing at HydroFarm Holdings Group Inc. from November 2021 to May 2024. Mr. Mayer is the managing member of CL Investment Group LLC, which owns a 50% stake in the Company alongside director Lewis Wilks.
The Company has not entered into any compensatory arrangements with Mr. Mayer in connection with his appointment, and Mr. Sams’ compensation will not change. The Company noted that the new structure is intended to increase scalability and focus on financial discipline as Polar Power seeks to capitalize on growth opportunities in the telecom, data center, and defense industries.
