Founder of troubled electric van maker Arrival steps aside as CEO

Russian billionaire Denis Sverdlov to swap roles with chair Peter Cuneo after chaotic strategy U-turn

The founder of the electric van start-up Arrival has stepped aside as chief executive shortly after a chaotic strategy U-turn in which it shifted focus from the UK to the US.

Denis Sverdlov, a Russian telecoms billionaire, will be replaced by Peter Cuneo, the former head of Marvel Entertainment until its sale to Disney. Cuneo led the stock market listing early last year that injected $660m (548m) into the company at the height of a global electric vehicle investment frenzy.