LONDON -- Group Lotus Plc, the unprofitable luxury sports carmaker, fired CEO Dany Bahar after investigating unspecified concerns over his conduct, the company said.
Lotus said the decision was made by the board after an investigation into a complaint made against him by holding company DRB-HICOM Berhad.
Aslam Farikullah, 51, was appointed CEO.
DRB-Hicom acquired Proton, the parent company of Group Lotus, in January.
DRB-HICOM group managing director Mohd Khamil Jamil, who is also chairman of Lotus, said the company's Malaysian owners remained "committed to ensure the ongoing and future business operations of the Lotus Group."
"I look forward to bringing mutual benefits to not only DRB-HICOM and Proton Holdings Berhad but also the Lotus Group and its employees as well as contribute to the growth of the British automotive industry," he said in a statement.
Bahar had set ambitious plans for the British sports carmaker.
In a bid to broaden the appeal of Lotus, and signaling an expanded product lineup, Bahar oversaw the introduction of six concept cars at the 2010 Paris motor show.
He also moved to burnish Lotus' standing with racing enthusiasts by forming ties with the Formula One and IndyCar racing leagues. Lotus is an engine supplier to IndyCar for the 2012 season.
Bahar previously worked in marketing for Red Bull and Ferrari and moved to Lotus after parent company Proton agreed to a deal for Malaysian aviation entrepreneur Tony Fernandes to enter Formula One as Lotus Racing.
Bloomberg and Reuters contributed to this report