Lotus CEO, Dany Bahar Terminated

DRB-HICOM Berhad, the company that owns Lotus, via Proton, has terminated the services of Lotus Group CEO, Dany Bahar with immediate effect.

The announcement comes as a culmination to weeks of internal investigation, following the suspension of Bahar last month. The issue first came to head when unconfirmed reports relate the misconduct of Bahar to the misuse of company funds to refurbish several of his personal homes.

According to a press statement, “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 termination of Bahar couldn’t had come at a more inappropriate time amid persistent speculation that DRB-HICOM Berhad is considering selling the company.

Group Managing Director of DRB-HICOM, Dato’ Sri Haji Mohd Khamil Jamil, 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.”

Bahar was instrumental in his plan to turn Lotus from a niche sports car manufacturer to one which will compete head on with the likes of Porsche in the next few years. Whether this plan comes to fruition now will remain to be seen.

Aslam Farikullah has been appointed as the new Lotus CEO.