Changes in management at Lotus Cars

[Randy Chase]

Received this early today.

GROUP LOTUS PLC


CHANGES IN TOP MANAGEMENT OF GROUP LOTUS PLC


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.'

Michael J Kimberley's background:


Mike Kimberley has been associated with the LOTUS brand for over 22 years,
since joining its founder, the late Colin Chapman in 1969. He worked his
way up the Company, was appointed as the Managing Director of Lotus Cars
Ltd. between 1976 until 1983 and became the CEO of Group Lotus Plc between
1983 until the end of 1991.


Mike is a well-respected veteran of the automotive industry, having spent
over 30 years with various world-renowned automotive companies including
General Motors, Jaguar and Automobili Lamborghini SPA.


Two of his major achievements were the rejuvenation of Group Lotus Plc
following the tragic loss of its founder, Colin Chapman in the late 1982 and
the revival of the Italian supercar maker, Automobili Lamborghini SPA, in
1994.


More recently, he was appointed to the Board of Directors of Group Lotus plc
as well as Lotus Group International in August 2005. Mike Kimberley also
chairs the Executive Committee of Lotus Group International.

[maz]

interrupting all broadcasts. from the news desk of lotus limited:
.................................................. .................................................. ..
CHANGES IN TOP MANAGEMENT
OF GROUP LOTUS PLC

May 11, 2006 – Group Lotus Plc announced today a change in the senior management of the company.

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.

With immediate effect, Mr. Michael J Kimberley (Mike) will take over as Acting Chief Executive Officer of Group Lotus Plc. Mike was appointed to the Board of Directors of Group Lotus plc as well as Lotus Group International in August 2005. Mike Kimberley also chairs the Executive Committee of Lotus Group International (LGIL).

Mike Kimberley has been associated with the LOTUS brand for over 22 years, since joining its founder, the late Colin Chapman in 1969. He worked his way up the Company, was appointed as the Managing Director of Lotus Cars Ltd. between 1976 until 1983 and became the CEO of Group Lotus Plc between 1983 until the end of 1991.

Mike is a well-respected veteran of the automotive industry, having spent over 30 years with various world-renowned automotive companies including General Motors, Jaguar and Automobili Lamborghini SPA.

Two of his major achievements were the rejuvenation of Group Lotus Plc following the tragic loss of its founder, Colin Chapman in the late 1982 and the revival of the Italian supercar maker, Automobili Lamborghini SPA, in 1994.

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.

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
.................................................. .................................................. ....

this is some of the best news ever, ever.

[nas213]

4 minutes too late.
http://www.elisetalk.com/forums/showthread.php?t=22990

[qball]

Damn! Kim Ogaard-Nielson has a vacation home in my neighborhood here in Florida. Was hoping to meet up with him next time he was in town and get some inside scoop on Lotus. Perhaps persuade him to get a supercharger installed on my Elise!

Damn, Damn, Damn, Damn, Damn, Damn, Damn, !

[maz]

kim was a good guy. mike is a better guy for all of us.

[babak]

Originally Posted by nas213

4 minutes too late.
http://www.elisetalk.com/forums/showthread.php?t=22990

Threads merged.

[Vantage]

Nice to see that the new CEO is someone who has been around Lotus for a long time and understands these cars.

[zvezdah1]

Mike Kimberley is a good bloke, think this can only benefit USA, he did go a bit overboard on development of the M100 but otherwise, I'm happy with the move.
Chris

[Randy Chase]

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.

Corporate speak for "we put in our own group to closely watch these guys."

[Stan]

Mike is tall too, 6' 4" in his youth. So that may help those larger/taller folks amongst us better fit into future Loti. Chapman was pretty average sized. Mike is part of why the twin cam Europas have a bit more interior room than the S1 and S2 Europas. So that he could drive the darn things in the first place!

I wish him well and note that there sure have been many personnel changes over the recent period. This must be a challenge to those in the company. I hope they are able to keep their eye on the ball.

Mike is on the right, Mr Delorean in the center and Colin Spooner (eng chief) is the other fellow:

[Adam]

Exige S ????????????????????????????????

[maz]

no idea, but whatever comes next will be a lotus.

[hatchy]

so how about that warranty thing?

[Lotus Fury]

While I believe Mr. Kimberley is a great, if not the best, choice for the CEO position I am not sure of how Lotus is going to fair over the next few years without a substantive change in governance from Proton. Lotus has many structural problems and I don't see how that is going to change without systematic change, internally to the corporate structure and to their strategic vision. Hopefully this is only one of many changes coming to Lotus...

[CALtd]

Originally Posted by hatchy

so how about that warranty thing?

That would be a Lotus US problem not PLC.