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Group Lotus Plc announced today a change in the senior
management of the company. With immediate effect, Mr. Michael J Kimberley (Mike) will take
over as Acting Chief Executive Officer of Group Lotus Plc. Mike
currently chairs the Executive Committee of Lotus Group International Limited (LGIL).
Given his vast experience and expertise in the automotive industry,
Mike is a natural choice to manage the company and he will be supported
by the existing management team at the Company and will continue to
draw upon the support of the shareholder, Proton Holdings Berhad (PROTON), the
ultimate holding company. His priorities will include improving the
overall performance of Lotus as well as preparing and strengthening the
specialist car company and high-technology engineering and
consulting company to compete in a wider market and on a broader business base globally.
PROTON strongly believes that LOTUS has a critical role to play
in the Proton Group to enable it to become a successful automotive
engineering and manufacturing group and a prominent brand globally. Hence, PROTON
will continue to provide strong support to LOTUS and its group of
companies. In view of the above, PROTON has set up a special team to provide
close and specialist support to Mike and the management at Group
Lotus Plc, to address the key opportunities for LOTUS for the future.
Kim Ogaard-Nielsen, former CEO of Group Lotus Plc, has stepped
down to pursue his other entrepreneurial interests. Kim joined Group
Lotus Plc in November 2004 and has presided over a number of projects during
the past eighteen months. Lotus would like to record its thanks to
him for his service to the company during this period.
Speaking from LOTUS headquarters at Hethel today, Mike Kimberely
said, 'All specialist sports car companies operate in volatile and
highly competitive markets. However, sales of the Elise are moving ahead in the USA
and are being further enhanced by the new introduction of the Exige
model. I can assure our customers, business partners and all who watch this
iconic marque with interest, that LOTUS is a highly valued and
integral part of the PROTON Group.'
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