Lotus temporarily suspends CEO

Lotus temporarily suspends CEO

28/05/2012 in News, All News, Car Manufacturer News

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Lotus temporarily suspends CEO

Group Lotus chief executive Dany Bahar has been temporarily suspended pending an investigation into his conduct made by Lotus’ penultimate parent company, DRB-HICOM Berhad.

Lotus will not comment on the reasons behind the suspension, but reports from The Telegraph have linked the investigation to one of two homes rented by Lotus for Bahar.

In a statement, Lotus said: “As a result of a number of media inquiries, Group Lotus plc (“Lotus”) can today confirm that, following an operational review, chief executive Dany Bahar has been temporarily suspended from his role to facilitate an investigation into a complaint about his conduct made by Lotus’ penultimate parent company, DRB-HICOM Berhad.”

Lotus is being run by representatives from Malaysia during Bahar’s suspension period.

The latest development marks a further twist for Lotus which is waiting on parent company DRB Hicom to decide whether it will retain Lotus as part of the Proton acquisition it made this spring.

Bahar has previously hit out at the media speculation in April that he had left Lotus and the sports car marker was heading for administration.

Lotus launched a bold five-year plan in autumn 2010, spelling out plans for a five-strong range to turn the Norfolk-based company into a Ferrari rival. Model plans were delayed following DRB-HICOM’s due diligence process.

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It has been uncertain time for Lotus dealers. The Norfolk sports car brand is axing its entire European sales network and rehiring new partners as part of an ambitious relaunch which aims to put Lotus on a par with Aston Martin and Ferrari.

Lotus has a long and glittering history, but the company has shrunk to a fringe player in recent times.

While Porsche has powered ahead to become a sports car juggernaut selling 100,000 cars a year, little Lotus sold 2,745 cars worldwide in the past year and just 577 of those were in the UK.

But a new management team has swept into power, in autumn 2010 announcing ambitious plans to turn Lotus into a world-class player.

Instead of producing just the back-to-basics Elise, associated spin-offs and the Evora, new chief executive Dany Bahar wants to launch a range of five sports cars to take the fight to the supercar aristocracy.

In June 2012 Dany Bahar was dismissed as Group Lotus chief executive by new owners DRB-Hicom following an audit into the running of the company and an unspecified complaint against him.

Aslam Farikullah was appointed new Lotus CEO.

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Comments (1)

Irishboy4 - 120 weeks ago

what a pity, his dinner parties were so much fun............

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