Stefan Jacoby denies rumors that it may leave Volvo to become Opel CEO

Article by Christian Andrei, on August 7, 2012

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.

Topics: volvo, opel, ceo

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