GM European CEO Resigns After Opel Reversal - Bob Lutz to fill in?
Musical chairs: Opel Edition
By Michael Gauthier
November 9, 2009 8:20 PM
Filed Under: American, Corporate/Financial, General Motors, Opel
The fallout from GM's decision to keep Opel has claimed the job of Carl-Peter Forster, the company's chief executive of European operations.
While details are limited, it appears Forster and GM management clashed over the much-mangled deal to sell Opel to a joint-venture lead by Magna International. As you may recall, GM was going to sell a 55 percent stake in Opel but later decided the company was "vital to the success of General Motors."
According to GM President and CEO Fritz Henderson, "The Opel brand has made tremendous progress under Carl-Peter's tenure and leadership over the past several years. We thank him for his significant accomplishments and wish him only the best in the future."
For the time being, Forster is expected to be replaced by Nick Reilly (GM's executive vice president of international operations). Eventually, GM's Vice Chairman, Bob Lutz, could be tapped to fill in as interim chairman of the Opel supervisory board.
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