The new owners of Lotus, DRB-Hicom today announced via a press release that Dany Bahar has been terminated from his role at Lotus as CEO. This follows an announcement less than two weeks ago of his suspension while an investigation into his ‘conduct’ was carried out by the penultimate parent company. Dany Bahar had been CEO of Group Lotus for just over two and a half years and while the news is alight with rumours of his excessive spending causing DRB alarm, the real reason for his termination is unknown.
DRB-Hicom have appointed their own Aslam Farikullah as Chief Operating Officer while it’s assumed they’ll be looking for a replacement CEO. It’s not clear if Aslam Farikullah may succeed into this position however his appointment as COO doesn’t indicate this is the plan.
Official Press Release
Norfolk, 7 June 2012 – Group Lotus plc (“Lotus” or the “Company”) can today confirm that, Mr Dany Bahar has been terminated from his employment as Chief Executive Officer of Lotus with immediate effect.
The decision was made by the Board of Group Lotus plc following the results of an investigation into a complaint made against him by the company’s penultimate holding company, DRB-HICOM Berhad.
The Company today also announced the appointment of Mr Aslam Farikullah as the Company’s Chief Operating Officer with immediate effect. Mr Aslam, aged 51, has over 26 years working experience, most of which was in the automotive industry. He graduated from University of Bath, England with a Bachelor of Science (Hons) in Engineering. A British permanent resident, Mr Aslam and his English wife of 27 years have three children aged 26, 22 and 16.
Dato’ Sri Haji Mohd Khamil Jamil, Group Managing Director of DRB-HICOM Berhad and also Chairman of Lotus said: “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. I look forward to bringing mutual benefits to not only DRB-HICOM and PROTON Holdings Berhad but also the Lotus Group and its employees as well as contribute to the growth of the British automotive industry.”