Lotus announces that Gerard Lopez has taken over as team principal, replacing Eric Boullier

Lotus says that Gerard Lopez has replaced Eric Boullier as team principal ahead of the 2014 Formula One season.

Lopez, who is also the co-chairman of the English-based team, says in a statement that "great things have been achieved over the past years and we need to continue this momentum."

Pastor Maldonado joined Romain Grosjean in Lotus' driver lineup for this season after Kimi Raikkonen moved to Ferrari.

Media reports have linked Boullier with a move to F1 rival McLaren.