Patrick Louis Steps Down as Lotus F1 CEO

Lotus F1 have parted ways with chief executive Patrick Louis it has been revealed today.

Louis initially joined Lotus at the start of 2010 as Chief Operating Officer (COO) as part of a new-look management structure implemented following Genii Capital’s acquisition of the Formula 1 outfit earlier that year. He was promoted to CEO in 2012.

The news was initially reported by Autosport website and confirmed to iSportconnect from a Lotus source.

Autosport reports Louis has taken up a position with the Genii Automotive brand and will retain a position on the Lotus team board, cure and will be replaced as chief executive by Matthew Carter.

Carter is understood to be an ally of minority team shareholder Andrew Ruhan, who became involved with Lotus at the start of last year.

The development comes as speculation continues about Lotus’ financial position. The team had hoped to conclude a major deal with investors Quantum Motorsports by the end of 2013, but an agreement was not reached. They have also yet to announce a title sponsor which would have provided much need cash.

Read our recent interview with Patrick Louis here>>

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