Jump to content


SEARCH

1

Group Lotus CEO Dany Bahar has been fired

By Rigval on 13 Jun 2012

Attached Image

Group Lotus CEO Dany Bahar has been fired. This comes as no surprise as he was recently suspended from work in May due to a complaint made against him by the company's ultimate holding company, DRB-HICOM Berhad. The complaint was basically for his misuse of the bleeding company funds, i.e flying around in a private jet and renovating his house in England.

Attached Image

This also comes as no surprise as Group Lotus has a new owner – DRB-HICOM and new owners usually wants to trim down costs (before they themselves bleed the company dry at a later stage). Quite sensible as I read a report that while Lotus lost about a million Pounds in pre-tax profits last year, ex-CEO’s private jet bills amounted to nearly the same amount.

Dany Bahar is a Turkish born Swiss citizen who started off with the Red Bull energy drink company before being roped in by Ferrari. He basically brought in an outside point of view to Ferrari’s marketing strategies and what-nots. He was basically hand picked by the previous management of Proton to affect change unto Lotus. Change has happened, but at some cost. Obviously.

Anyway, Group Managing Director of DRB-HICOM, Dato' Sri Haji Mohd Khamil Jamil, had said in the press statement, "I would like to assure you that we remain committed to ensure the ongoing and future business operations of the Lotus Group as we take the Lotus Group to the next level to remain relevant in the global automotive industry." Now to add to that statement, DRB-HICOM is still adamant that they’re not selling off Lotus to some Chinese automobile manufacturer.

Does this mean that Group Lotus / DRB-HICOM will continue with the legacy or 5 year turnaround plan that was earlier laid down by Dany Bahar? I certainly hope so as firstly, the cars look pretty good even though they look too similar to one another and secondly, stopping such a plan halfway through its cycle is certainly bad business practice as they’ve already spent millions to date.

Group Lotus has more wait and see cliffhangers than any other car manufacturer gossip these days.

events, gossip, europe and 9 more...

Viewed: 961 times

Related Blog Posts
Rigval
Written by Rigval
Born in 1972. Married with a kid. Loves B-road drives and have driven cars from the 1950s to date.



  • 1
Relagsingh Jun 14 2012 05:07 PM
This is old news. Why bother?
  • 1
 
Car Makes

Please select a car make

Facebook Likes
   Featured Blog Post
Photo
Driving an old car with almost no modern features in it? Or just love adding new accessories for...
POPULAR BLOG POSTS
Photo
Ditching the front passenger seat for an infotainment system is a unique selling point for Volvo’...
Photo
Singapore supercar to debut in Geneva. Only 10 to 20 of the electric two-seater Vanda Dendrobium...
Photo
Nissan’s Mexican division is killing off one of the oldest cars in the market, the Tsuru, which i...
Photo
Despite a nearly $7 billion cost in recalling its explosive Galaxy Note 7 phones, Samsung ha...
Photo
Reuters has just published a report saying automakers will be reversing the recent downsizing tre...
   Lifestyle Articles