Karl-Friedrich Stracke steps down as Opel CEO

Article by Christian Andrei, on July 13, 2012

Opel CEO Karl-Friedrich Stracke has resigned from his role as head of General Motors’ European operations. Instead, he will be taking on “special assignments," and he will be reporting directly to General Motors CEO Dan Akerson. While the company searches for a replacement, Steve Girsky will be the acting head for GM’s operations in Europe.

Girsky is currently the Chairman of the Opel Supervisory Board. In a statement, GM said that the supervisory board of Adam Opel AG will be convened to appoint an interim chairman of the management board. Stracke, who is now 56, was supposed to appear at an industry conference last in Munich.

But in his place, development chief Rita Forst came. In a statement, Akerson said that Stracke would be able to build on his success amid the intense pressure. He also cited Stracke’s contributions to GM's success. Struggling partner Peugeot said that it will shut down the plant, which has 8,000 employees. Opel will have to cut 8,000 jobs and shut down the Aulnay, France, plant in 2014.

On January 1, Stracke became president of GM Europe. He had assumed control of the Adam Opel division in April 2011. Gersky was named last year to be the head of the supervisory board of Opel.

Akerson has been assigned to manage GM’s title of being the world's largest automaker in 2011. The company had posted a record-breaking full-year profit of $9.19 billion. He is urging the company to repair its European operations, which incurred losses of $16.4 billion since 1999. On June 28, Akerson said that GM Europe has posted $14 billion in losses in last 12 years and emphasized that this will need to stop.

Topics: opel, ceo

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