Lotus sacks Chief Execitive Danny Bahar

[GSi]

• Replaced by DRB-Hicom Berhard Senior Executive Aslam Farikullah, 51.

• Company said the decision followed the results of an investigation into the complaint.

• Group managing director of DRB-Hicom Berhad and chairman of Lotus, 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."

Source: http://www.bbc.co.uk/news/uk-england-norfolk-18361446

One unnamed Lotus official told the Financial Times, "Everything he did, he did with the blessing of the Board"

http://www.ft.com/cms/s/0/c1e573b4-b...#axzz1x8eW2p9X

I don't think this comes as much of a surprise, you don't suspend your chief executive unless you are very sure of the outcome of your investigations.

Is Aslam the best man to take Lotus forwards?

[Huff]

Not before time to be honest, Bahar was a fool.

For all Hicom say Lotus isnt for sale you can't imagine they would turn down a decent offer if one was made.

I think Lotus would be wise to abandon plans of chasing ferrari and porsche and concentrate on low cost low weight sports cars.

[SLARTIBARTFAST]

Why is he a 'fool'? What did (or didn't) he do? Can't seem to find out apart from the fact he was 'being investigated'.

[Huff]

Originally Posted by SLARTIBARTFAST

Why is he a 'fool'? What did (or didn't) he do? Can't seem to find out apart from the fact he was 'being investigated'.

Well i dont suppose the full extent of his dealings will come to light but there are strong suggestions that he has been giving away large numbers of Evora's to his mates.

I know a couple of the ex-Rover guys who work at lotus now and they are not sorry to see him go put it that way.

Edit: This made me Tee Hee

[GSi]

Originally Posted by SLARTIBARTFAST

Why is he a 'fool'? What did (or didn't) he do? Can't seem to find out apart from the fact he was 'being investigated'.

Have a read of this article
http://skiddmark.com/2012/05/dany-ba...ve-done-wrong/

[welshrover]

Originally Posted by Huff

Edit: This made me Tee Hee

well.....I've been having a bad time recently and things are not going my way.....but that site has made me laugh....

thank you.

[GAGA]

To: DRB Hicom Bhd.
From: Gaga Consulting Ltd.
Date: 07th June 2012
Subject: Lotus Group Plc

Background:
The acquisition of Proton Holding Bhd. made it
necessary for DRB Hicom Bhd, the acqiring party,
to evaluate and decide about the future of the
acquired party's subsidary Lotus Group Plc (in
the following to as "the company" or "Lotus").
As it interferes with its parent company's
business and drains its resources, a disposal
of the said subsidiary could help to free up
resources and focus on the further developement
of its current parent company.

Proposals
We suggest two ways of diposing the company under review.

One is to realign the turnaround plan and to float
Lotus on the stock market. This would also help
to ease the financing, as the proceeds from the
IPO could be used for debts repayment and financing
future plans. Furthermore, it might also facilitate a
future sale. In order to show commitment and support,
the current parent company should remain as the
major shareholder.

Secondly, we propose merging the company with
another carmaker. As a suitable company to merge
with, we have indentified Aston Martin Lagonda
Ltd. The said company also builds and sells
sportscars, but caters a different market segment.
It also suffers from similiar issues due its size,
for instance financing new product development.
A combination of Lotus and Aston Martin might
help to share development costs through joint
developments and platform sharing. Both companies
would complement each other, as both have valuable
expertise in building low volume sportscars.
Furthermore,the distribution channels of both companies
could be enhanced through a joint sales and service network.


Implementation:
The realignment of the turnaround plan and the
assessment of the business for a possible IPO
should be assisted and conducted by external
help. Consulting experts should be assigned
with the review of the business. Whereas investment
banks should be tasked with assessing the business
and the chances for an flotation.

As regards the possible merger, the current owners
of Aston Martin Lagonda Ltd. should be contacted
and discussions should be started. Secrecy is
necessary in order to avoid unnecessary media coverage and possible adverse effects for both companies in question.

Possible drawbacks
Clearly both proposals, especially the merger with another carmaker, would entail considerable costs and further drain of management resources. However, the disposal of Lotus through one of the poposed ways would free up resources of its parent company and help its parent company to focus on the pursuit of becoming a player with global reach in the automotive industry.



Less sensible ideas:

- Go to the Sultan of Brunei, become its financial adviser, tell him to invest in a small sportscar maker in UK
- register the company "YTA Ltd" (Yellow Teeth Automotive) in UK
- buy Lotus Group from DRB Hicom
- buy Aston Martin
- buy Cosworth
- buy the remains of De Tomaso from the administrators (also the former Pininfarina factory)
- assign Lotus with rebodying (with the help of Bertone or Pininfarina) the current Elise
in order to sell it as the new "De Tomaso Vallelunga"
- do the same with the up comming new Esprit: rebody it as new De Tomaso Pantera
- stick Cosworth engines in the De Tomasos
- build all future Aston Martins on the same platforms that Lotus uses
- start building Lotus motorbikes
- unite all companies under the "Yellow Teeth Motors Group"
- marry a british rose (slightly sleazy, slightly coy)
- get knighted for saving two niche carmakers and investing in UK
- start wearing a monocle for no reason
- buy a nice country house
- throw nice and lavish dinner parties reguarly in your garden
- grow a moustache
- start saying "By Jove!", when you're surprised