Following a reshuffle, Lopez will combine the team principal role with his position on the board of the Enstone-based team, whilst his chairmanship responsibilities will be shared with co-chairman Andy Ruhan.
Commenting on the news, Lopez said: "Lotus F1 Team has never stood still and we head into what promises to be an exciting 2014 season with an innovative new car, new partners and a new management structure at Enstone.
“Great things have been achieved over the past years and we need to continue this momentum. We thank Eric for all his hard work over the past four years and we are confident we can continue to fight as one of the top teams in Formula 1 over the seasons ahead.”
Lotus are the only team that will not attend next week’s pre-season test in Spain with their new car. They plan to unveil their 2014 challenger, the Renault-powered E22, at the second test of the year in Bahrain in February.