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It's an ongoing issue, that's why Thomas. DRB have issued a response to the press and that's it until the matter is resolved.

I'm sure all the "big players" would at least have posted the press release asap. Its a marketing no-brainer, not doing so is just stupid and ois just asking for rumours.

Have we considered that this is a move by DRB to bring in their own CEO who has their interests at heart without having to pay Bahar a severance?

I've never heard of the severence package playing any role when you really want to fire someone, just like it has never played any role in firing a football trainer. DRB is a multi-billion $ operation, why would they be concerned about DB's potential severance package ? Hell no, you just pay him out, its the only way to condemn him to silence.

It seems much more likely that DB overstretched the contractual loan agreements with Proton and the banks, which was probably the only way to get through the last months. In the end it may have been his ultimate sacrifice to Lotus.

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"It seems much more likely that DB overstretched the contractual loan agreements with Proton and the banks, which was probably the only way to get through the last months. In the end it may have been his ultimate sacrifice to Lotus. "

I'm not sure I'm understanding you right. DB sacrifice??? The man has pissed through cash like it's Dec 20, 2012 since he came on board (we all know what the Mayans think). There's ways to draw interest and excitement to the company, and then there is a cash spending orgy like no other for the sake of blowing money. The man bit off way more than the company could afford to chew in the name of flash/bling. Sorry, but I really don't think there was a solid business case here (announcing 5 models at once but so far delivering zip). As the saying goes "i'm from Missouri" (show me!!!)

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From one link in that report came this "Bahar joined Lotus in 2009 from Ferrari. According to The Daily Telegraph, he is entitled to 5% of the enterprise value of Group Lotus if it is sold or 5% of the value of its shares if the car maker is listed. The report said Bahar is paid a guaranteed annual package of at least £1.2 million, including a £600,000 salary and bonuses."

That's the problem these days around the world. While workers go for years without getting rightly earned merit raises, too many CEO's have sweetheart deals up front and will walk away quite rich for no performance at all. Things should be far more leveraged on what they actually deliver.

Edited by comem47

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Lotus in limbo after chief executive Dany Bahar's suspension: BBC article

From that article

"But compare it to the considerably more expensive and sophisticated rivals that have long been on Mr Bahar's radar, and the Exige S comes across as terribly crude"

Really? [email protected]!

Buddsy

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I've never heard of the severence package playing any role when you really want to fire someone, just like it has never played any role in firing a football trainer. DRB is a multi-billion $ operation, why would they be concerned about DB's potential severance package ? Hell no, you just pay him out, its the only way to condemn him to silence.

It seems much more likely that DB overstretched the contractual loan agreements with Proton and the banks, which was probably the only way to get through the last months. In the end it may have been his ultimate sacrifice to Lotus.

Depends on what that severence is really! Its its in the tens of millions then I think I might sell several internal organs to avoid paying it....maybe even sell one of my kids (I have 3 more so thats ok)..... :)

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'Fess up, Bibbo. Do you have a TLF "severance package" or not? :lol:

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:lol: I get an awful lot more free time as part of my golden parachute!!

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I can relate. :D

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Got rid of many CEO's?

Just one, from my old Gambling Supply company. He was my best mate, but I paid him off with a poker set, table and his investment back :) Hehe.

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Maybe this is why Lotus PR has been quiet on the suspension (from the latest EDP piece) -

And in a move bypassing the firm’s own press team, DRB has also called in former News of the World editor Phil Hall’s crisis management company to handle the PR linked to the suspension.

DRB are exerting more and more control, which seems to indicate they don't trust Proton either.

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I spoke to Phil Hall on Monday, he said 'no comment' a lot! :)

I think one of the earlier articles said that Lotus PR are being bypassed in case Bahar comes back, to avoid compromising their positions.

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Wouldn't the move of not using the Lotus PR department maybe indicate it is a review and it keeps loyalties intact should Dany return?

It would be difficult to maintain ongoing trust with your PR dept if they were the ones releasing news and then you come back? No?

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That's probably true. DRB have said that if DB is exonerated following the investigation he would be welcome to return to his position. And despite the ongoing speculation, the law says innocent until proven guilty......

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Its exactly this undecisiveness that keeps me confused. I've nevver known a company that has taken such an undetermined position, normally management decided beforehand which decision they will take and then execute it wthout compromise. All very strange.

Off course DB is innocent until proven guilty, but that goes only before court. From a business perspective they are all guilty of undermining the business position of Lotus:

  • DB for, as a minimum, taking actions that were not clearly approved by his superiors
  • Proton management either for negligent supervision of Lotus Cars or lack of support for DB as their subordinate
  • DRB for obviously not taking any clear position and putting Lotus Cars in this position.

Throw them all out!

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What I find unusual is the ongoing investigation part. Most times someone is quietly investigated and then confronted with the evidence and sacked on the spot. Maybe there was something critical on his laptop they had to get and needed to crack an encrypted password first. Dunno.

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If he'd done something which could lead to the termination of his contract I would have thought he would have just been sacked.

I personally believe that DRB have done this to make his position untenable. Innocent or guilty, it would be hard to come back now so much mud has been slung.

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"I personally believe that DRB have done this to make his position untenable."

Possibly so, but they'd best have a credible reason, or they're in for a rather large lawsuit, particularly if they attempt to weasel out of whatever severance renumeration is involved. And they can't abide the lengthy period of bad PR that that would entail.

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It was stated in a recent article that "They wouldn't have started down this route unless they (DRB) were 100% sure of themselves and what they were doing".

You can read this in 2 ways. One is Bibs's above the other is that they have alot of mud to sling and proof of it.

Which it is has yet to be seen.

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And with "proof in hand," might they be expecting DB to "go quietly" and thus avoid the extended PR nightmare?

Even so, it would be astonishing if such "evidence" did not ultimately surface in the public square. And all parties must know that. A conundrum all 'round.

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It just doesn't make sense. If they want to sack him they should have just done it.Right now they are not just making DB's position untenable, but also hurting their own asset Lotus Cars. I just can't imagine a lawsuit betwen DB and DRB. How stupid could they get? A never ending period of bad P and, in the end, it always comes down to an out-of-court settlement with non-disclosure clause.

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Whatever is said about DB and whats happened you cannot take away the fact that he has got the brand back into the limelight .... not for all the right reasons but its defniately back on the scene......

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For the amount of money that went toward it, a tree sloth could have put Lotus back on the scene.

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