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Lotus CEO Dany Bahar Fired

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Dany Bahar

Dany Bahar

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Following a suspension last month amid an investigation into misconduct--likely related to his use of company funds to extensively refurbish his several houses--Lotus CEO Dany Bahar has been fired, effective immediately.

The announcement, made in a release by Group Lotus, Plc, said the decision to fire Bahar was made by the company's board on the basis of the results of parent company DRB-Hicom's investigation. Bahar's removal marks the second automotive CEO to be done in by inordinate expenses recently, following Ernst Lieb's departure from Mercedes-Benz USA.

At present, no replacement for Bahar has been selected, but Aslam Farikullah has been appointed Group Lotus' chief operating officer, also effective immediately, presumably to run the day-to-day business until a suitable CEO can be found.

We'll keep you posted with more details as the story develops, but for now, DRB-Hicom says it remains committed to the future of the Lotus brand within the automotive industry.

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Comments (2)
  1. This is wild….you used to aspire to be a CEO of a company….now to think that these guys are wasting these opportunities is really sad.
     
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  2. Many of us worked with DB in the past are not surprised at all.
    It`s only strange that companies need so much time to understand what is going on.
    Will be interesting where DB will arise next.
     
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