Former Prime Minister Tun Dr Mahathir Mohamad is said to have been appointed as chairman of both Proton Holdings Bhd and its wholly-owned subsidiary, Lotus plc, according to a report in The Malaysian Reserve business news today. It seems that the appointment papers have been signed and the official announcement will be made sometime this week.
The report goes on to say that the current Proton Executive Chairman Tan Sri Mohd Khamil Jamil will withdraw from his post following Tun Dr Mahathir’s appointment.
The former prime minister, according to sources of the report, is expected to transform the national carmaker’s sliding fortunes and to make sure it succeeds even if it means having to micro-manage the entire operations. Currently, it’s domestic market share is about 22 percent.