Lotus team name new chief executive

As they prepare to join the Formula One grid next season, the new Lotus team have revealed Riad Asmat is to become their chief executive. Asmat, 38, is a former general manager at state-owned Malaysian car company Proton.

"Riad's expertise, which is a good blend of both corporate experience and motorsports knowledge, will provide the dynamic and success-oriented leadership that the Malaysian team requires, team principal Tony Fernandes told a press conference on Friday. "I'm confident that his knowledge of motorsports coupled with vast experience will contribute to the success of the team."

The team - a partnership between Air Asia boss Fernandes and the Malaysian government - are currently based in the UK, but their long-term plan is to move to a purpose-built headquarters at Kuala Lumpur's Sepang International Circuit.

Source: The Official Formula 1 Website