William G. Rankin has decided to retire and resign from his position as chairman of the board at Longmont-based UQM Technologies Inc., effective April 30.

Rankin, 70, joined UQM (NYSE: UQM) in 1992 and served as chief executive officer from 1999 until he retired from that role in 2010. He was elected to the board of directors in 1996 and elected board chairman in 2000.

”Bill’s leadership during the last 22 years has placed UQM as a world-class provider of electric vehicle motor technology,” said Eric Ridenour, the company’s president and CEO, in a media statement.

Elected to succeed Rankin as board chairman as of May 1 is Donald W. Vanlandingham, a member of the board since 2003. He previously was chairman, president and CEO of Boulder-based Ball Aerospace and Technologies Corp., a subsidiary of Broomfield-based Ball Corp. (NYSE: BLL).