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Group Lotus CEO Dany Bahar has been fired

By Rigval on 13 Jun 2012

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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.

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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.

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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
 
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