In a bid to quash rumours that Proton has appointed a new chief executive officer, DRB-Hicom has released a statement saying that it, along with Geely, is still in the midst of finalising the transaction of the latter’s acquisition of the national carmaker.
The Malaysian conglomerate stressed that the current priority of both companies is to formulate a business plan to turn Proton around, which The Edge reported is expected to be completed by the end of 2018. That turnaround plan is part of a definitive agreement signed on June 23, in which Geely agreed to purchase a 49.9% equity stake in Proton.
This week, several local dailies reported that Geely had picked Li Chunrong to become Proton’s new CEO. The news originally appeared on Chinese automotive portals China Automotive Review and Gasgoo last month, as well as China’s state-run news agency Xinhua.
The executive was apparently poached from Dongfeng, which had only recently put Li in charge of its engine joint venture with Honda in July. A Geely spokesperson said at the time that the company would not comment on media speculation, and that all news is subjected to a final announcement.
In addition to being deputy general manager of Dongfeng Honda Engine, Li had previously sat on the board of directors of the greater Dongfeng Automotive group as a deputy director, and was also the deputy general manager of Dongfeng Yueda Kia Motors.
Rumours had been swirling about Li’s appointment since the beginning of August, and when asked about the speculation then, minister of international trade and industry (MITI) Datuk Seri Mustapa Mohamed said that the government would not interfere with the appointment of any person to lead Proton, and that the responsibility falls on the company’s board of directors, reported Berita Harian.
“We have to be open and invest to get talent. If we focus too much on whether that talent is foreign or not, it would be difficult for us to make any progress,” Mustapa said, adding that Proton will remain a Malaysian company even if it appoints a foreigner to head the company.
He also said that there was no issue regarding the matter as there are now plenty of local companies that have invested in foreign talent, such as Sime Darby and Petronas. “In line with the open market, Malaysian companies should come out of their shells and not focus so much on getting local talent that they fall behind.”
Whether its a black cat or white cat, as long as it can catch the mouse, then its a gud cat.
U mean as long as it’s ur OWN pipu, then can be CEO of P1?
Of cuz it has to be own pipu from P1/ Volvo/ Geely/ LnC/ London Cab. Who on earth gets a non related person (ie Ghosn) to run company unless they hired him in 1st?
Habisla Proton.
Why need to replace CEO? I think the current P1 CEO is doing a fantastic job in creating jobs for our locals. In fact, i think he should be given a raise in salary
Proton CEO, Directors and Management got their increments and bonus the past few years. My brother works there. Increment very very high
How do they do this? Company not making money…how to get increment?
U forgot G gave P1 how many Bs already?
Dont bluff. Their increment is at most rm 50. Ex gratia is only 0.25 months how can you say very high increment? Most resgin because can no longer stand small salary and being hired by giants OEM all over the world (Shanghai, japan, Stuttgart, Wolfsburg, Detroit, Turin etc) No need to go far, just review LinkedIn and you will find former PROTONian serving OEM overseas
Better to get a China CEO. After all the past DRB CEO’s have failed Proton. Proton did not improve a single bit with DRB CEOs. Infact, Proton became worse. So, why still put DRB CEOs still?
When Proton sales went kaput and company bleeding money, none of the DRB Board of Directors and CEO in Proton did not take one sen pay cut. They all got big fat 6 figure salary every month, big fat bonus packages, drivers, limos etc.
Not even one single BOD of Proton volunteered a pay cut.
In overseas, if company is doing badly, BOD and CEO will offer to take a pay cut. Here in Proton, not a single sen reduction in pay.
So better get the China CEO in. He will whip the company into shape. No more crony practice. No more kowtow to all the vendors and suppliers who have been cheating PRoton the past 30 years.
Currently, Proton’s main problem is the vendors and suppliers who overcharge Proton by 10X whilst giving Proton super low quality parts. At the end of the day, Proton only gets the bad name for the low quality parts.
But no one can touch 1 of these vendors no matter what. They have been there 30 years. Even DRB could not change even a single vendor cause all of them are either in the Cabinet or the sons of ex Cabinet members.
We need a China CEO badly.
As Malaysia, we all hope this rumors is true, if true, good to proton and malaysia. if not true..
and still a malaysian ceo, tell me how many malaysian have the capability to lead it ?
Can we have a Black Cat CEO in Proton? Can we also get a few black cat CEOs in other GLC too?
Can john answer me this question?
Damn… Proton should be having zero gud cat for losing so much money in decades.
Local media slowpoke? Rumours came out long time edi, now recycle the rumour for clickbait?
Geely and Proton didn’t confirm anything, a rumour is a rumour.
Transition and familiarisation period over. Time for new mgmt team to get to work. 1st on agenda is how much investment needed to add more automation in Tg Malim.
Insanity is doing the same thing over and over again and expecting different results.
yup Albert, you are absolutely right.
Deep down in the root, none of the CEO knows business/economy as they never ever challenge outside of bolehland before..
If want to maju, pls get the china ceo or else wait for geely to cancel the agreement…
wow.
i hope china ceo will repair and solve my new saga 206 problem
I opine it’s high time Proton consider a foreign CEO who is competent and proven in the car industry rather stick to local breed out of sheer patriotism or insisting on having a Malay CEO to be Malaysian. If unresolved, soon, Geely will sell back their shares to the government now that they have Lotus – which was their main interest anyway!
Ini bukan budaya P1, tau?
Buy Proton better, don’t buy Perodua cause Perodua doesn’t have any safety features, Perodua only scores four stars safety rating and Perodua also having rear axle problem whereas Proton have safety features, Proton scores five stars safety rating and Proton doesn’t give any rear axle problems
Should it really matter what race/religion/nationality he is ? He is experienced and capable. That’s what matters.
And a foreign CEO is nothing new to Proton. Between 1988 and 1993, Proton’s CEO was Kenji Iwabuchi (from Mitsubishi). Proton’s first MD was Wan Nik Wan Ismail (ex-civil servant), but after the mid-80s economic recession and subsequent Yen appreciation, Proton’s prospects were looking bleak after just 2 to 3 years in business.
Dr. M was very upset with Proton’s top management, especially after the Bricklin fiasco. In the end, Dr. M consented and allowed Mitsubishi to take control of Proton’s top management (except in local marketing, which was a different story).
And within a few years, Mr. Iwabuchi and his team managed to turn Proton around. Proton’s export head was also a Japanese. Proton Cars U.K. was chaired by a Brit.
It was during this period (late-80s to mid-90s) that Proton grew most rapidly… because Proton was driven by competency, and not complacency.
Geely and DRB-HICOM should take their time to formulate their turn-around plan. Do what they must… just don’t let politics get it the way, as it has for the past three decades.
No worries bro. im sure the plan Geely must have basis b4 gov consented selling it to them. As long the major transition milestones r achieved, gov wun interfere. But if Geely doublecross, then the hammer will come down- hard.
proton is suffering from karma…….for all the accumulated things they did years ago.