Dany Bahar has been dismissed effective immediately by Group Lotus following an investigation into Bahar’s spending practices.
Bahar was under scrutiny for charging home renovations and private aircraft to the company while Lotus was in the red and behind on its loan payments. Of course, excess spending in the corporate world is nothing new, but when you’ve overstayed your welcome, it’s a great way to get yourself canned.
The tragedy is that Bahar’s vision, while ruthlessly mocked, was fairly sound, even if he exhibited questionable conduct as an individual. Lotus needs to appeal to more than just the hairshirt types who buy the Elise and Exige, and their new cars are being well received by the UK media (we won’t be getting the wild Exige S V6 unfortunately). Hopefully DRB-Hicom has someone waiting in the wings that can execute a long-term strategy for Lotus.