Even as the company continues to raise capital for expansion and continued research into its electric technology, Zero Motorcycles is facing the loss of another major executive.

Yesterday news broke that its long-time CEO, Gene Banman, was retiring from the operational management of the company.

Zero Motorcycles Inc. designs, manufactures, and sells high performance electric motorcycles. They are known for their line of dirt bikes including the popular Zero X but also produce a lineup for everyday riders with a motorcycle called the Zero S which began shipping in 2009.

Zero is now shipping the Zero S in volume as well as the Zero DS, a dual sport model.

And Gene Banman has seen much of the company’s growth, joining the company as COO in 2007 as employee number nine. Within 60 days he became CEO and led the effort to find professional investors to get the company off the ground. He has since raised tens of millions in funding, built a strong executive team and positioned Zero as worldwide leader in the electric motorcycle industry.

Although leaving his daily roles at the company, Banman will stay on the board of directors and day-to-day operations will be directed by COO, Karl Wharton, who joined the company in February.

“It’s been a tremendous experience, getting Zero Motorcycles to this point,” said Banman. “I feel proud of the enormous progress we have made and of the excellent management team we have put in place that will take the company to the next level. I plan to get some R&R and travel, and then do some part time work with non-profits. I look forward to continuing to work with the company as a board member.”

It was less than thirty days ago the founder of Zero Motorcycles, Neal Saki announced he would be leaving the company, stepping down from the day-to-day operations of Zero Motorcycles, the electric-motorcycle maker he founded with his wife, Lisa, in their garage in 2006. Saiki stated he was giving up the electric-bike business for now so he can pursue the Sikorski Prize, an award for the first successful flight of a human-powered helicopter.

“Gene, together with Neal Saiki, were instrumental in convincing us to back the company at the time when it was just a startup with a vision to transform the motorcycle industry,” said Aflalo Guimaraes, Managing Director of The Invus Group, LLC and Zero board member, “Gene's leadership and the team he brought together have established Zero as the leading manufacturer and brand of electric motorcycles and put it on course to realize the vision of making electric motorcycles a mainstream segment of the industry by both appealing to experienced riders and bringing new customers into the camaraderie of riders.”

According to reports, Chief Operating Officer Karl Wharton, who joined Zero in February after several years at Triumph Motorcycles, will take over direction of day-to-day operations while the company seeks a new CEO.

Financial experts consider this the growing pains of any new technology based company where new money comes in, old leadership exits, and seasoned executives step up to try and takes the company to a larger corporate structure.

“We are thankful for everything Gene has done for Zero to date and are glad that our association with Gene continues with his ongoing active participation on the board of the company,” the statement finished from Guimaraes.