Kim Ogaard-Nielsen is now the former Chief Executive Officer of Group Lotus Plc, with Lotus veteran Mike Kimberley (right) named as Acting CEO, effective Thursday.

The move comes as a surprise, as Ogaard-Nielsen had only joined the company in November 2004. In standard press release doublespeak, Ogaard-Nielsen is said to be leaving the company "to pursue his other entrepreneurial interests." Kimberley is a 22-year associate of Lotus, going back to the Colin Chapman days, and is credited with reviving the company after Chapman's death in 1982. He has previously served Lotus as CEO from 1983 to 1991, and latterly as a member of the Board of Directors.

No candidates have been named to replace Ogaard-Nielsen long-term.

[Source: Group Lotus]