Chief Executive Officer Patrick Louis will has announced that he will be leaving his day to day role with the Lotus F1 Team.
The Frenchman will step down from daily management but will retain his seat on the Lotus Team board of directors.
Louis will take up a position with Genii Automotive, a group that manages business interests in the racing and automotive sectors, which includes ownership of the Formula 1 team through its Genii Capital parent company.
Mr Louis, who joined the team as the Chief Operating Officer in 2010 after Genii Capital bought the outfit from Renault, will be replaced by Matthew Carter.
Mr Carter is linked to Lotus and supported by Andrew Ruhan, a property investor with a two percent stake in the team.
The news is the newest chapter in the Lotus saga and reflects on the stalling of the deal with Quantum Motorsport in late 2013.
Due to the falling through of that promising contract, Lotus was unable to secure the services of Nico Hulkenberg, and instead signed the Venezualan backed Pastor Maldonado.
Maldonado brings with him the heft of the state-owned oil and gas company, PDVSA and their substantial sponsorship.
Given the team’s financial woes in 2013, including unpaid dues to Kimi Raikkonen and the delay of the introduction of its 2014 racer until the second pre-season test, it will be interesting to see what their overall position and viability is this year.
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