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Group Lotus Plc Announced Today a Change in Company's Senior Management


May 2006
 Filed under: LOTUS Car News | LOTUS Headlines
11 May 2006 -- 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 Kimberley 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.”


Notes: 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.


About Group Lotus plc:

The main operating subsidiary of Group Lotus plc is Lotus Cars Ltd, which has two operating divisions - Lotus Cars and Lotus Engineering.

Lotus Engineering provides comprehensive and versatile consultancy services to many of the world’s OEMs and Tier 1 suppliers, offering a full engineering service from initial concept and project design through development to full production prototype build.

Lotus Cars builds and commercialises Lotus sports cars, Elise and Exige; and manufactures the advanced composite front and rear crash structures for the Aston Martin V12 Vanquish.

Source: Group Lotus Plc

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