Proton Loses Top Executives
Three top Proton executives have quit. The executives are head of group finance Tan Seng Lee, head of internal audit, Colin Low, and head of public relations, Fauziyah Abu Hassan.
The reason for quitting is believed to be related to last month’s removal of Tengku Mahaleel as CEO. However, unnamed sources from within Proton says that it has nothing to do with earlier developments and Mr Tan had left for “better opportunities”.
On other Proton-related matters, Hyundai has outright denied that there are any tie-up talks with Proton. Hyundai’s local franchise holder is Sime Darby Sdn Bhd. There were also rumours of Sime Darby picking up the extra equity held by Khazanah Nasional but Sime Darby has also denied this.
The company said in an exchange filing with Bursa Malaysia: “Sime Darby wishes to inform Bursa Malaysia that it has no plans to acquire any substantial interest in Proton.”
Proton said yesterday that it was still open to equity deals but did not offer any information on who is in negotiation currently.
With all these Proton top officials out of the company including the CEO himself, it’s no wonder that http://www.proton.com.my/ skips the main page and goes straight to the Human Resource Careers page.
Sources:
Sime: No plans to buy big stake in Proton - NST
Three Top Executives Quit at Proton - Associated Press
Hyundai Says Not In Tie-Up Talks With Malaysia’s Proton - Dow Jones Newswire
Malaysia Proton Says Units Open To Equity Deals - Dow Jones Newswire
August 10, 2005 @ 5:57 pm
Well usual internal “Clean UP” after TM was kicked on his ass…happens anywhere larr. Just one small corner of the snowie moutain ~~
August 10, 2005 @ 11:11 pm
you know la, how things work… example like mca team a and b… those pro TM got kicked lo… fired would be too harsh, so squeeze them out la… someone with good ties with khazanah could go up then…
August 11, 2005 @ 12:20 pm
Better still… TM and friends must go out at the same time… if not still no much change then…
August 12, 2005 @ 8:54 am
Yeah everybody knows it!
August 13, 2005 @ 1:49 am
wau that “TM” still got his penyokong…..
i respek him… la
if all quit b-coz of him… may be proton chap-lap