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Riad Asmat Promoted Group CEO Of Team Lotus


KUALA LUMPUR, Aug 24 (Bernama) -- Team Lotus chief executive officer (CEO) Riad Asmat has been promoted to Group CEO of Team Lotus, Caterham Cars, Caterham Team AirAsia, merchandising, engineering and all associated businesses, with immediate effect.

Air Asia Group CEO Tan Sri Tony Fernandes and fellow shareholders Kamarudin Meranun and SM Nasarudin SM Nasimuddin confirmed the promotion in a statement here today.

They expressed delight that Riad had taken on the role.

"We are absolutely delighted Riad has taken on the role of Group CEO and could not have placed our faith in a better person to lead our businesses forward," said Fernandes.

He said they had first met Riad in 2009, and were immediately struck by his passion, hard work and determination to succeed.

"He will be an inspirational leader for a very talented group of people working across all our group companies," he said.

On his promotion, Riad said he was honoured to be given the opportunity to help lead such an exciting group of companies.

"Big challenges lie ahead of us, but with the inspiration and passion of Tony, Din (Kamarudin) and Nasa (Nasarudin) to call on, and the support of the talented, dedicated people we have in each of our group companies, I am excited about what lies ahead," he said.

Team Lotus is a British-based Malaysian Formula One (F1) team which made its debut in the 2010 Formula One season.

Riad was a key player in the establishment of the team in 2009. Under his tenure as CEO, he had overseen the growth of the F1 team, establishment of the GP2 team, acquisition of Caterham Cars and establishment of a number of related businesses, including a growing merchandise division.

-- BERNAMA

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