Lotus, which, according to speculation still harbours hopes of entering F1, has announced that it has recruited Dany Bahar, former Commercial and Brand Development & Partners Director at Ferrari.

In a statement issued today, the Norfolk based manufacturer announced that Bahar had been brought in to replace Mike Kimberley who announced his retirement due to ill-health in July.

"With Dany's track record in motorsports and Ferrari, we strongly believe that we have found the right CEO to enhance the Lotus image, brand and reputation as a world class sports car and engineering company," said Group Lotus chairman Dato' Mohd Nadzmi Mohd Salleh. "With a strong management team already in place, we are confident this objective can be attained."

"I am looking forward to taking on the challenges as CEO of this legendary and iconic company with a peerless motorsport history," said Bahar. "Lotus has a worldwide reputation for innovative engineering and superb sports cars that lead the world in efficiency, design and dynamics.

"With the recent launch of the award-winning Evora, there is proof that Lotus is better placed than many to capitalise on the rapidly changing automotive market. I can't wait to get my plans underway in October."

Prior to joining Ferrari, Bahar was head of corporate projects for Red Bull, helping to set up its F1 strategy and NASCAR team.

Meanwhile, reports in the Malaysia press link Team Lotus with a possible buy-out of the BMW F1 team in a deal which would involve Petronas and the Malaysia government.