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Tuesday, August 28, 2012

EX LOTUS CEO DANY BAHAR SUES FOR R90 MILLION

Dany Bahar during funner days


Lotus Elan Concept

Lotus Esprit Concept
In addition to becoming obsolete and pointless, Lotus is now facing a lawsuit from Dany Bahar, its ousted CEO. Bahar is suing Lotus and its parent company DRB-Hicom for wrongful dismissal, to the tune of around R90 million.


The company got rid of Bahar about two months ago. Reasons were not made public but it’s highly speculated that DRB-Hicom, which owns Lotus owner Proton Motors, was seriously not impressed with his running of the British brand. Some might even say his running down of it. The lawsuit will be defended and papers have already been filed from both sides.

According to DRB, “Dany Bahar was dismissed after an investigation into his stewardship of Lotus. We believe we have acted properly at all times.”

Bahar joined Lotus in 2009from Ferrari where he was a vice president for the Global Brand. He promised to take on Ferrari and Porschehead-on with products like a revamped Esprit, Elan and Elise among others. Analysts reckoned at the time Bahar needed around €800 million (about R8.4 billion) to successfully develop and take these to market. Clearly the money didn’t come through because these cars have not materialised.

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//PART 2