Group Lotus plc today confirmed that the company fired Chief Executive Officer Dany Bahar after a complaint from Malaysian parent DRB-Hicom Bhd. (DRB) about unspecified concerns over his conduct.
According to the Telegraph Newspaper, Dany Bahar’s investigation was triggered when internal audits discovered the Lotus CEO had rented two homes in Norwich, UK using funds belonging to the British sports car marque.
The Swiss national is involved in a legal dispute relating to building work done on one of the houses.
Mr Bahar was suspended last week after a meeting with DRB-Hicom in Malaysia.
Dany Taner Bahar was the Chief Executive Officer of Group Lotus Plc having joined in September 2009. Prior to joining Lotus, Bahar was employed at Ferrari S.p.A.
Bahar moved to Switzerland after his family emigrated to the town of Silvaplana in the mid-1970s. His father was an electrician and his mother worked part-time in a hotel.
Lotus didn’t disclose details of the investigation triggered by the complaint and Proton said today that it won’t make further comments for the time being.
DRB HICOM Bhd is the parent of Proton, which is the national carmaker.
Proton has not made any profit from the British unit over the past 15 years and Lotus has been struggling to compete against other sportscar makers such as Porsche AG and Ferrari in Europe.