Lotus F1 appoint CEO

Lotus Formula One team appointed Riad Asmat as chief executive on Friday.
Mr. Asmat, who was general manager at state-owned Proton Holdings Berhard overseeing its motorsport program, will take charge at the team included as the 13th entry on the starting grid for next season.

The Malaysian-backed team, which was launched last month, are aiming for a roll out of the new car in mid-February to test it before the season opener in Bahrain in March.

'Riad's expertise, which is a good blend of both corporate experience and motorsports knowledge, will provide the dynamic and success-oriented leadership that the Malaysian team requires,' team principal Tony Fernandes told a news conference in Sepang.

'I'm confident that his knowledge of motorsports coupled with vast experience will contribute to the success of the 1Malaysia F1 Team.'

Lotus F1 is a partnership between the Malaysian government and a consortium of Malaysian entrepreneurs. 'All of us in the 1Malaysia Formula One Team understand that this is a very important first step for the nation,' Mr. Asmat said.