Proton’s top-exec still at the top, says DRB-HICOM

Proton Geely

DRB-HICOM has issued a response to the rumour that Li Chunrong, one of Geely’s latest high-ranking appointment who previously was the deputy general manager of Dongfeng Honda Engine Co., will be revealed to be Proton’s next Chief Executive Officer.

Basically, it is not true.

Earlier today a DRB-HICOM announcement states that the company and Zhejiang Geely Holding Group Co. Ltd. (Geely) are currently still in the process of finalising details of the transaction (recent acquisition).

As part of the definitive agreement signed on June 23, the first priority is to formulate a solid business plan that can ensure Proton would be on a solid footing as it moves forward with the new business set-up.

This is consistent with what was told to the press when the Proton-Geely first announced their plans. Geely currently holds a 49.9 per cent stake in Proton.

However, the statement also added that any material announcement in this regard, if any, will be made in due course.

Source: Bernama