Volvo CEO Stefan Jacoby won’t be leaving the company to be the CEO of Opel. Volvo made this announcement in response to a Swedish business publication Dagens Industri report that he is the top contender for the post. Automotive News Europe talked to a Volvo spokesman who said that Jacoby is "fully occupied" as the top honcho at Volvo and doesn’t have any plans to leave.
Opel has yet to release a statement about this matter. GM named Thomas Sedran last month as interim CEO at Opel as the replacement of Karl-Friedrich Stracke, who left the post.
GM said that Sedran, who is formerly a restructuring consultant with AlixPartners, would be the head of Opel until a permanent CEO is put in place. Opel is being restructured by GM to stop its losses. GM's European unit, composed of Opel and UK sister brand Vauxhall, reported losses of $361 million in the second quarter.