Motor racing-Malaysia's Lotus F1 team appoint CEO

KUALA LUMPUR, Oct 30 (Reuters) - Malaysia’s Lotus Formula One team appointed Riad Asmat as chief executive on Friday.

Asmat, who was general manager at state-owned Proton Holdings Berhard overseeing its motorsport programme, will take charge at the team included as the 13th entry on the starting grid for next season.

The Malaysian-backed team, which was launched last month, are aiming for a roll out of the new car in mid-February to test it before the season opener in Bahrain in March.

“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 news conference in Sepang.

“I’m confident that his knowledge of motorsports coupled with vast experience will contribute to the success of the 1Malaysia F1 Team.”

Lotus F1 is a partnership between the Malaysian government and a consortium of Malaysian entrepreneurs.

“All of us in the 1Malaysia Formula One Team understand that this is a very important first step for the nation,” Asmat said.

“We’ll make it our key objective to build a very strong and robust foundation moving forward.” (Reporting by N.Ananthanarayanan in New Delhi, editing by Peter Rutherford; To query or comment on this story email