Lotus have confirmed that Matthew Carter will replace Patrick Louis as CEO of the Enstone team.
Louis will continue to work for the team, however, after taking up a new position at Genii Automotive, it was confirmed to Crash.net on Tuesday.
Louis joined the team in 2010 as Chief Operating Officer when Genii Capital bought the operation from Renault.
Martin, in his new role, will be supported by minority shareholder Andrew Ruhan, who acquired a small share of the company at the start of the 2013 season.
The management reshuffle was necessitated after the Quantum Motorsports investment deal failed to materialize last year, which also ruined Lotus' chances of recruiting Nico Hulkenberg as Romain Grosjean's partner when Kimi Raikkonen left for Ferrari.
Instead, pay-driver Pastor Maldonado, who with him brings an extensive sponsorship from Venezuela's state oil and gas company PDVSA, was signed.
Speculation about a lack of funds at Lotus has been rife of late, and Raikkonen claimed that he had not been paid at all for the services he rendered to the team throughout the 2013 season.