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Showing results for tags 'dany bahar'.
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Former Lotus CEO Dany Bahar sues DRB Hicom for wrongful dismissal
SYF77 posted a blog entry in MyAutoBlog
[extract] In June 2012, Lotus -
[extract] 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. This also comes as no surprise as Group Lotus has a new owner
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Oh No. The Lotus group, makers of the Lotus Elise, Exige and Evora is rumoured to be in trouble. It seems that DRB-Hicom, the Malaysian conglomerate that owns Group Lotus' parent company, Proton may want to free itself from the wrangles of trying to turn around the sports car company. According to industry followers, notably F1 reporter Joe Saward, the management of DRB-Hicom somehow does not think that owning Lotus makes financial sense and may sell off its stake in Lotus to China Youngman, a company that already has ties with Proton. This news comes after the Lotus F1 team terminated a sponsorship agreement with Group Lotus but also stated that it had struck a five-year deal with Lotus
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Lotus announces a new business plan....and terminates its dealers in Europe
Rigval posted a blog entry in MyAutoBlog
[extract] And now for an update about Lotus. It seems the new CEO, ex-Ferrari man Dany Bahar has decided to make sweeping changes in order to make Lotus profitable. Proton, the ultimate owners of Lotus at this point of time seem to have allowed a free reign for him to do so. Sometime last June, Lotus announced that they have a 5 year plan which includes moving upmarket