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Lotus F1 CEO Patrick Louis steps down

Patrick Louis has left his role as the CEO of Lotus F1 and will be replaced by Matthew Carter, the team has confirmed.
A management reshuffle at Lotus F1 has resulted in Patrick Louis stepping down as Chief Executive Officer, a spokesman for the team has confirmed to Crash.net.

Louis will remain on the board of Lotus and will take up a new position at Genii Automotive.

Louis, who joined the team as Chief Operating Officer in 2010 when Genii Capital bought the operation from Renault, will be replaced as CEO by Matthew Carter who is supported by minority shareholder Andrew Ruhan, a property investor who bought an estimated two per cent stake in the team for one million pounds early last year.

The management reshuffle comes after the team's hoped-for financial investment from Quantum Motorsports failed to materialise at the end of 2013.

The stalling of that deal meant that team principal Eric Boullier had to give up on his plans on attracting Nico Hulkenberg to the team to race alongside existing driver Romain Grosjean after the departure of Kimi Raikkonen to Ferrari,

Instead, Lotus have since signed up Pastor Maldonado as their new driver, who beings with him extensive sponsorship funding from Venezuela's state oil and gas company PDVSA.

Raikkonen's time at Enstone came to a premature end in 2013 when the Finn needed back surgery after experiencing pain from an old racing injury.

Raikkonen had also been in dispute with the team over unpaid salary for the year, at one point indicating that he hadn't been paid for any races at all. The reports had contributed to speculation about Lotus' overall financial position and viability moving into 2014.

Related Pictures

Click on relevant pic to enlarge
02.11.2013- Free Practice 3: Kimi Raikkonen (FIN) Lotus F1 Team E21
23.11.2013- Qualifying, Romain Grosjean (FRA) Lotus F1 Team E21
22.11.2013- Free Practice 2, Romain Grosjean (FRA) Lotus F1 Team E21
23.11.2013- Free Practice 3, Pastor Maldonado (VEN) Williams F1 Team FW35
07.06.2013- Free Practice 1, Eric Boullier (FRA), Team Manager, Renault F1 Team
23.11.2013- Free Practice 3, Lotus F1 Team E21
Lotus F1 Team logo. 01.03.2013.
Pastor Maldonado (VEN) Lotus F1 E23.
Pastor Maldonado (VEN), Lotus F1 Team 
Pastor Maldonado (VEN) Lotus F1 E23.
Max Verstappen (NED) Scuderia Toro Rosso STR10 and Kimi Raikkonen (FIN) Scuderia Ferrari SF15-T
Kimi Raikkonen (FIN) Scuderia Ferrari SF15-T
Kimi Raikkonen (FIN) Scuderia Ferrari SF15-T
Kimi Raikkonen (FIN) Scuderia Ferrari SF15-T
Romain Grosjean (FRA) Lotus F1 Team E23
Romain Grosjean (FRA) Lotus F1 Team E23
Romain Grosjean (FRA) Lotus F1 Team E23
Kimi Raikkonen (FIN) Ferrari SF15-T passes the team pit gantry.

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January 07, 2014 7:45 PM

It would be a shame if Lotus did not have the sufficient resources to stay up top and repeat their results. Let's hope there are no more conmen and bullshitters involved with the team because even Maldonado,s money will only go so far!!!

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