DRB-Hicom Bhd today held an extraordinary general meeting to get shareholders’ approval for its 42.74% stake purchase in national carmaker Proton. It went through, and in the following press conference, Group MD Datuk Seri Mohd Khamil Jamil revealed some interesting details.
There has been plenty of speculation on the top jobs at Proton after DRB-Hicom announced its majority stake purchase, and that’s fully expected, since current Proton chairman Datuk Mohd Nadzmi Mohd Salleh was DRB’s rival for the stake, leading a so-called “management buyout”.
Khamil told reporters that a new management team for Proton will be revealed in two weeks time “There will be improvements to the management. There can be new faces, I will not discount the fact, and there can be old faces. There is always a blend of old and new for continuity as well as for providing new ideas and talents”.
No names were mentioned, so we’ll have to wait for the announcement. “At the moment, I’ve not put forward to the DRB-Hicom Board of Directors the candidates who will or may helm or assist in helming Proton,” he added.
Management aside, Proton’s Group Lotus subsidiary is another subject of much speculation. Will DRB-Hicom persist with the costly turnaround plan currently in progress? Or will the new owner hive off the loss making division?
“After this, we will be in a position to evaluate the situation in Lotus to take a further step, whether it will remain in the stable or be disposed of,” he said, adding that DRB-Hicom was open on the matter and wanted the best for its new acquisition.