Lotus Chief Executive Dany Bahar has been removed from his position over at British sportscar manufacturer Lotus. Two weeks ago we revealed that the controversial Chief Executive had been suspended pending investigations into his conduct. It’s now thought that parent company, DRB-Hicom has completed these investigations and found some level of wrongdoing relating to Bahar’s period in charge.
Rumours are suggesting that the reason for Bahar’s dimissal related to company expenses. A number of sources suggest that DRB-Hicom questioned an unpaid bill of £92,845, claimed as expenses, in relation to work done on one of Bahar’s homes. It is also thought that Bahar spent upwards of £1 million on private aircraft travel between Formula 1 destinations. It is thought that this has angered DRB-Hicom as Lotus currently runs a £200 million deficit. There’s no suggestion of wrongdoing by Bahar at the moment.
Dany Bahar joined Group Lotus in September 2009 after leaving Ferrari. He gained plenty of critics after presenting a new Lotus car line-up at the Paris Motor Show 2010. Since, Lotus has only produced one new model, the new-generation Lotus Exige. He currently takes home a payment package of at least £1.2 million, including a £600,000 salary and bonuses.
To replace Dany Bahar, DRB-Hicom has bought in Aslam Farikullah, a 51-year-old engineering graduate from Bath who previously oversaw vehicle manufacturing for the Malaysian company. His experience seems limited as DRB-Hicom focuses mainly on manufacturing of Honda and Mercedes-Benz models, assembly and distribution. Considering Lotus has at least four models to build from scratch, Aslam Farikullah has been placed into the deep end.
It remains to be seen what the new Lotus Group will look like in the hands of Aslam Farikullah. One of the only ways to reduce the deficit is to produce the planned model expansion. Hopefully Lotus continue to put effort into this, otherwise, it will not look good for the Hethel-based company.
As any Ferrari insider can tell you : the simple fact is Lotus did not ‘ poach ‘ Dany Bahar from Ferrari , but rather Ferrari DUMPED Dany Bahar on Lotus .
DB was a Liability at Ferrari from day one .
The sad thing is many of us tried to tell this to Lotus and the Press with neither being willing to listen as Bahar systematically began to disassemble Lotus financially with his ludicrous future plans( to compete with Ferrari & Porsche ) race sponsorships that Lotus can ill afford , his relentless partying and courting ( for his own purposes ) of the Glitterati , along with ….. now here’s the clincher .. Refusing to either Own or even Drive a Lotus while being CEO of the company
But ….. as always ….. Nobody Listens …… and now ….. well if you look at the business side of things ( investors bankers etc ) we may be facing the eventual demise of another Great Automotive Icon .
Start L-I-S-T-E-N-I-N-G people …
Absolutely correct. He has always used the companies that employed him as a handy source to finance his extravagant lifestyle and side-businesses. He did not really care about the companies and their staff. All he cared about was himself. He has always tried to make extra bucks with “expenses” and kick-backs from suppliers. – Dangerous man!