Zhejiang Geely‘s acquisition of a 49.9% equity stake in Proton will not change the way the automaker is run, with the management of the national carmaker continuing to be led and overseen by its parent company, DRB-Hicom.
According to The Sun, international trade and industry minister Datuk Seri Mustapa Mohamed was informed that the deal will have no significant impact on the executive aspect of Proton.
“We understand that DRB-Hicom will continue to lead in the management of Proton. That’s the information I received. Of course, it’s a business decision. So whatever it is, we leave it to the company to decide what is best for them,” he told reporters.
The deal, which will see Geely and DRB-Hicom signing the definitive agreement before the end of July 2017, will also see the Chinese company acquire a 51% majority stake of Lotus Cars from Proton. The latter had also announced that it was selling off Lotus Cars in its entirety, with the remaining 49% stake to be sold to Etika Automotive.
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AI-generated Summary ✨
Comments on the blog post reveal mixed sentiments about DRB-Hicom's continued management of Proton. Many critics express frustration, believing that ongoing mismanagement and corruption hinder Proton's success, calling for foreign or Chinese management to revitalize the brand. Some suggest Geely's involvement may bring more expertise, but others worry it will lead to loss of control and further decline. Several comments criticise government financial support, claiming it is misused and urging a shift away from politicized management. There is skepticism about Proton’s future under current leadership, with fears it will continue to suffer losses or be sold off, while a few hold hope that foreign management or new strategies could turn the company around. Overall, the tone is largely critical, emphasizing the need for change to improve Proton’s prospects.