Terry Playle has today announced that he will retire from the position of Group Lotus Chief Executive at the end of March 2002. He became Chief Executive in March 2001.
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Terry Playle, 69, has worked with Lotus for five years, originally as a consultant to Lotus, then becoming a non-executive Director before taking on the role of Chief Executive.
Playle has been responsible for the restructuring of the company over the last 12 months. He said: “My intention was always to stand down and retire from the Chief Executive role before my 70th birthday in April 2002. I have achieved what I set out to do in that I have restructured the business to ensure greater transparency between its three divisions – Car Sales, Engineering and Manufacturing. This has led to improvements in the efficiencies, day-to-day management and accountability of the company.
He added: “I have enjoyed my time at Lotus, a company for which I have a great affection and ambition.”
Lotus expects to announce the appointment of a new Chief Executive in the next few months.
