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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With a £100 million investment from its new management, DRB Hi-Com, to fund new models, a £10 million government grant for training and Jean-Marc Gales as the new chief executive officer, Lotus has a lot invested in its future success.

UK sales don't tell the whole story as it's a global brand, but the remaining 11 dealers will be wanting something to shout about to boost sales beyond the 235 sold last year, a fall of 8%.

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Comments (1)

Irishboy4 - 147 weeks ago

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

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