Lotus CEO Jean-Marc Steps Down For Feng Qing

Jean-Marc Gales has stepped down as Lotus Cars CEO and will be replaced by Feng Qing Feng, chief technical officer of Lotus’ owner, Zhejiang Geely Holding Group. Jean-Marc was previously from Mercedes-Benz and the PSA Group.

Geely Holding Group bought a 51% stake in Lotus last September when it promised to turn the niche British sports car manufacturer into a globally competitive brand and a leader in the sports car market.

Gales has “stabilized and turned Lotus to profitability for the first time in the iconic brand’s history,” Daniel Donghui Li, chief financial officer of Geely Holding and Lotus Cars chairman, said in a statement.